German American Bancorp, Inc. (NASDAQ:GABC) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 11.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 196,347 shares of the bank’s stock after acquiring an additional 20,289 shares during the period. Bank of New York Mellon Corp owned about 0.66% of German American Bancorp worth $7,897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GABC. German American Bancorp Inc. lifted its position in shares of German American Bancorp by 160.1% during the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock valued at $19,918,000 after acquiring an additional 316,400 shares during the last quarter. Franklin Resources Inc. raised its stake in German American Bancorp by 13.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,708,130 shares of the bank’s stock valued at $67,557,000 after purchasing an additional 196,003 shares during the period. Barclays PLC raised its stake in German American Bancorp by 577.6% during the 3rd quarter. Barclays PLC now owns 69,271 shares of the bank’s stock valued at $2,684,000 after purchasing an additional 59,048 shares during the period. State Street Corp raised its stake in German American Bancorp by 6.9% during the 3rd quarter. State Street Corp now owns 772,675 shares of the bank’s stock valued at $29,941,000 after purchasing an additional 50,206 shares during the period. Finally, Royce & Associates LP raised its stake in German American Bancorp by 43.3% during the 3rd quarter. Royce & Associates LP now owns 133,156 shares of the bank’s stock valued at $5,160,000 after purchasing an additional 40,219 shares during the period. Institutional investors and hedge funds own 46.90% of the company’s stock.

German American Bancorp Trading Up 2.4 %

NASDAQ GABC opened at $38.66 on Friday. German American Bancorp, Inc. has a 1-year low of $31.06 and a 1-year high of $47.08. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.45 billion, a PE ratio of 13.71 and a beta of 0.60. The firm’s fifty day simple moving average is $39.62 and its 200-day simple moving average is $40.81.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. As a group, sell-side analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a $0.29 dividend. The ex-dividend date was Monday, February 10th. This is an increase from German American Bancorp’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.00%. German American Bancorp’s dividend payout ratio is 41.13%.

Analysts Set New Price Targets

GABC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Piper Sandler cut their target price on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, German American Bancorp currently has an average rating of “Hold” and a consensus price target of $46.40.

Insider Transactions at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley bought 1,000 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $39.21 per share, with a total value of $39,210.00. Following the completion of the transaction, the director now directly owns 5,370 shares of the company’s stock, valued at $210,557.70. This represents a 22.88 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have purchased 1,064 shares of company stock valued at $41,764. 6.16% of the stock is owned by insiders.

German American Bancorp 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.