Comerica Bank Reduces Stake in German American Bancorp, Inc. (NASDAQ:GABC)

Comerica Bank lowered its position in German American Bancorp, Inc. (NASDAQ:GABCGet Rating) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,420 shares of the bank’s stock after selling 2,040 shares during the period. Comerica Bank’s holdings in German American Bancorp were worth $1,915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in shares of German American Bancorp by 15.7% in the 2nd quarter. Franklin Resources Inc. now owns 1,016,886 shares of the bank’s stock valued at $34,757,000 after acquiring an additional 137,865 shares during the last quarter. Vanguard Group Inc. boosted its holdings in German American Bancorp by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,328,941 shares of the bank’s stock valued at $50,486,000 after purchasing an additional 108,035 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in German American Bancorp by 26.0% in the first quarter. The Manufacturers Life Insurance Company now owns 494,324 shares of the bank’s stock valued at $18,779,000 after purchasing an additional 102,098 shares during the last quarter. John W. Rosenthal Capital Management Inc. purchased a new stake in German American Bancorp in the third quarter valued at $2,665,000. Finally, Russell Investments Group Ltd. boosted its holdings in German American Bancorp by 112.9% in the second quarter. Russell Investments Group Ltd. now owns 67,385 shares of the bank’s stock valued at $2,302,000 after purchasing an additional 35,738 shares during the last quarter. Hedge funds and other institutional investors own 41.02% of the company’s stock.

German American Bancorp Stock Up 1.3 %

GABC stock opened at $37.70 on Friday. German American Bancorp, Inc. has a 52 week low of $32.76 and a 52 week high of $41.60. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $37.93 and a 200-day simple moving average of $37.52. The stock has a market capitalization of $1.11 billion, a P/E ratio of 14.07 and a beta of 0.70.

German American Bancorp (NASDAQ:GABCGet Rating) last released its quarterly earnings results on Monday, October 31st. The bank reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. German American Bancorp had a net margin of 29.33% and a return on equity of 15.13%. The firm had revenue of $65.80 million during the quarter, compared to the consensus estimate of $66.97 million. Equities analysts forecast that German American Bancorp, Inc. will post 3.26 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, November 20th. Investors of record on Thursday, November 10th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Wednesday, November 9th. German American Bancorp’s dividend payout ratio is currently 34.33%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on German American Bancorp in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

German American Bancorp Company Profile

(Get Rating)

German American Bancorp, Inc operates as a bank 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.

Further Reading

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Institutional Ownership by Quarter for German American Bancorp (NASDAQ:GABC)

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