Wedge Capital Management L L P NC Has $3.70 Million Stock Position in German American Bancorp, Inc. (NASDAQ:GABC)

Wedge Capital Management L L P NC increased its position in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 22.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,091 shares of the bank’s stock after buying an additional 21,174 shares during the quarter. Wedge Capital Management L L P NC owned about 0.39% of German American Bancorp worth $3,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GABC. SG Americas Securities LLC bought a new stake in German American Bancorp during the 4th quarter worth approximately $142,000. Teacher Retirement System of Texas bought a new stake in German American Bancorp during the 3rd quarter worth approximately $279,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in German American Bancorp by 8.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,885 shares of the bank’s stock worth $418,000 after purchasing an additional 961 shares in the last quarter. Glenview Trust co increased its holdings in German American Bancorp by 6.0% during the 3rd quarter. Glenview Trust co now owns 17,738 shares of the bank’s stock worth $481,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in German American Bancorp by 43.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 20,675 shares of the bank’s stock worth $560,000 after purchasing an additional 6,248 shares in the last quarter. 46.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Raymond James boosted their price objective on German American Bancorp from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Piper Sandler upped their target price on German American Bancorp from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, February 1st.

Insider Buying and Selling at German American Bancorp

In other news, Director Diane B. Medley acquired 1,000 shares of German American Bancorp stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $33.64 per share, with a total value of $33,640.00. Following the completion of the acquisition, the director now owns 3,660 shares in the company, valued at $123,122.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders bought 1,107 shares of company stock valued at $37,113. Company insiders own 6.16% of the company’s stock.

German American Bancorp Stock Performance

GABC stock opened at $33.17 on Thursday. The firm has a market cap of $981.17 million, a PE ratio of 11.36 and a beta of 0.62. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average of $32.68 and a 200-day moving average of $31.19. German American Bancorp, Inc. has a 12-month low of $24.85 and a 12-month high of $34.96.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, January 29th. The bank reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.06. German American Bancorp had a return on equity of 14.26% and a net margin of 27.10%. The business had revenue of $61.20 million during the quarter, compared to analyst estimates of $61.25 million. As a group, sell-side analysts expect that German American Bancorp, Inc. will post 2.56 earnings per share for the current year.

German American Bancorp Company Profile

German American Bancorp, Inc operates as a financial holding company for German American Bank that provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insurance Operations. The Core Banking segment accepts deposits from the general public; and originates consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, as well as sells residential mortgage loans in the secondary market.