Champlain Investment Partners LLC Lowers Position in German American Bancorp, Inc. (NASDAQ:GABC)

Champlain Investment Partners LLC cut its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 10.7% in the third quarter, HoldingsChannel.com reports. The firm owned 1,252,116 shares of the bank’s stock after selling 150,107 shares during the quarter. Champlain Investment Partners LLC’s holdings in German American Bancorp were worth $48,519,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GABC. EntryPoint Capital LLC grew its holdings in shares of German American Bancorp by 186.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock worth $71,000 after purchasing an additional 1,339 shares during the period. Renaissance Technologies LLC acquired a new position in German American Bancorp during the 2nd quarter worth about $207,000. SG Americas Securities LLC acquired a new position in German American Bancorp during the 3rd quarter worth about $247,000. Pettinga Financial Advisors LLC lifted its stake in German American Bancorp by 6.5% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock worth $258,000 after acquiring an additional 443 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new position in German American Bancorp during the 3rd quarter worth about $346,000. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GABC shares. StockNews.com lowered German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $41.00 to $48.00 in a research note on Wednesday, October 30th. Stephens started coverage on German American Bancorp in a research note on Tuesday, October 15th. They set an “overweight” rating and a $45.00 target price on the stock. Raymond James increased their price target on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler increased their price target on German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, German American Bancorp currently has a consensus rating of “Hold” and a consensus price target of $45.25.

German American Bancorp Price Performance

GABC stock opened at $45.96 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $1.36 billion, a P/E ratio of 16.59 and a beta of 0.61. The business’s 50-day moving average is $41.07 and its two-hundred day moving average is $37.76. German American Bancorp, Inc. has a 1 year low of $27.23 and a 1 year high of $46.75.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. The business had revenue of $62.40 million for the quarter, compared to the consensus estimate of $62.80 million. Analysts anticipate that German American Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Sunday, November 10th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.08 dividend on an annualized basis and a yield of 2.35%. German American Bancorp’s dividend payout ratio is presently 38.99%.

About German American Bancorp

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.