166,542 Shares in German American Bancorp, Inc. (NASDAQ:GABC) Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC acquired a new position in German American Bancorp, Inc. (NASDAQ:GABC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 166,542 shares of the bank’s stock, valued at approximately $5,887,000. Mutual of America Capital Management LLC owned approximately 0.56% of German American Bancorp as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of German American Bancorp by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 227,390 shares of the bank’s stock valued at $7,370,000 after buying an additional 5,090 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of German American Bancorp by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,093,033 shares of the bank’s stock worth $35,426,000 after purchasing an additional 30,050 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of German American Bancorp by 101.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 23,295 shares of the bank’s stock worth $755,000 after purchasing an additional 11,732 shares during the period. Franklin Resources Inc. raised its stake in German American Bancorp by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 1,305,881 shares of the bank’s stock valued at $42,324,000 after purchasing an additional 177,399 shares in the last quarter. Finally, Comerica Bank lifted its position in German American Bancorp by 28.3% during the fourth quarter. Comerica Bank now owns 51,785 shares of the bank’s stock worth $1,678,000 after purchasing an additional 11,424 shares during the period. Institutional investors and hedge funds own 46.90% of the company’s stock.

Insiders Place Their Bets

In other German American Bancorp news, Director Thomas W. Seger purchased 3,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $36.80 per share, with a total value of $110,400.00. Following the completion of the purchase, the director now owns 484,342 shares of the company’s stock, valued at $17,823,785.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Diane B. Medley bought 710 shares of German American Bancorp stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $36.37 per share, for a total transaction of $25,822.70. Following the completion of the acquisition, the director now directly owns 4,370 shares of the company’s stock, valued at approximately $158,936.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas W. Seger purchased 3,000 shares of the stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $36.80 per share, with a total value of $110,400.00. Following the acquisition, the director now owns 484,342 shares in the company, valued at approximately $17,823,785.60. The disclosure for this purchase can be found here. Insiders have acquired 4,078 shares of company stock valued at $150,203 in the last ninety days. 6.16% of the stock is currently owned by insiders.

German American Bancorp Stock Performance

NASDAQ GABC opened at $39.70 on Friday. The firm’s fifty day moving average price is $39.00 and its two-hundred day moving average price is $35.03. The stock has a market cap of $1.18 billion, a PE ratio of 13.93 and a beta of 0.62. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 0.83. German American Bancorp, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $42.78.

German American Bancorp (NASDAQ:GABC) last issued its earnings results on Monday, July 29th. The bank reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. German American Bancorp had a return on equity of 12.97% and a net margin of 24.44%. The business had revenue of $64.89 million during the quarter, compared to analysts’ expectations of $60.20 million. On average, equities analysts expect that German American Bancorp, Inc. will post 2.7 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Saturday, August 10th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 9th. This represents a $1.08 annualized dividend and a yield of 2.72%. German American Bancorp’s dividend payout ratio is presently 37.89%.

Analysts Set New Price Targets

GABC has been the topic of several recent analyst reports. Hovde Group raised their target price on shares of German American Bancorp from $33.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, May 31st. StockNews.com cut German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Raymond James lifted their price target on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler boosted their price target on German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.67.

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.