Thomas W. Seger, a director at German American Bancorp, Inc. (NASDAQ:GABC), a $1.3 billion market cap regional bank trading at a P/E ratio of 15.8, has recently purchased shares of the company. According to a Form 4 filing with the Securities and Exchange Commission, Seger acquired 38.3040 shares of common stock at a price of $44.38 per share, totaling approximately $1,699.
The transaction was executed on December 15, 2024, and was part of a prior election made by Seger to use a portion of his director compensation to purchase shares through the company's Dividend Reinvestment and Stock Purchase Plan, which currently yields 2.43%. Following this transaction, Seger holds shares jointly with his spouse, with a total of 465,134.3797 shares owned indirectly. InvestingPro data shows the company has maintained dividend payments for 32 consecutive years, with 12 straight years of dividend increases.
This acquisition reflects Seger's continued investment in German American Bancorp, a state commercial bank headquartered in Jasper, Indiana. The stock has shown strong momentum with a 38.5% return over the past six months, and according to InvestingPro analysis, the company appears undervalued at current levels.
In other recent news, shareholders of German American Bancorp have approved the proposed merger with Heartland BancCorp (OTC:HLAN), according to the recent 8-K filing with the U.S. Securities and Exchange Commission. The voting outcome showed a strong endorsement for the merger, with the majority of votes in favor. The merger, anticipated to be finalized in the first quarter of 2025, is expected to expand German American Bancorp's footprint and customer base. However, the impact on the market position and future prospects of the combined entity remains dependent on the deal's completion. The merger agreement includes the issuance of German American Bancorp common stock to Heartland BancCorp shareholders. These are the latest developments in the merger process between the two financial institutions. As always, investors and stakeholders are encouraged to review the relevant documents filed with the SEC for further details.
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