Mutual of America Capital Management LLC Acquires 8,259 Shares of German American Bancorp, Inc. $GABC
Mutual of America Capital Management LLC increased its stake in German American Bancorp, Inc. by 4.2% in Q2, acquiring an additional 8,259 shares, bringing its total to 202,684 shares valued at approximately $7.8 million. Other institutional investors have also made significant purchases. The stock rose 2.1% to $38.96, with a market cap of $1.46 billion. The company recently declared a quarterly dividend of $0.29 per share. Analysts have upgraded their ratings, with a consensus target price of $46.33.
Mutual of America Capital Management LLC increased its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,684 shares of the bank's stock after purchasing an additional 8,259 shares during the period. Mutual of America Capital Management LLC owned approximately 0.54% of German American Bancorp worth $7,805,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Silver Oak Securities Incorporated acquired a new stake in German American Bancorp in the 1st quarter valued at approximately $28,000. SouthState Corp acquired a new stake in German American Bancorp in the 1st quarter valued at approximately $28,000. KBC Group NV acquired a new stake in German American Bancorp in the 1st quarter valued at approximately $55,000. GAMMA Investing LLC raised its position in German American Bancorp by 2,933.8% in the 1st quarter. GAMMA Investing LLC now owns 2,063 shares of the bank's stock valued at $77,000 after buying an additional 1,995 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in German American Bancorp by 10.8% in the 1st quarter. Quantbot Technologies LP now owns 3,272 shares of the bank's stock valued at $123,000 after buying an additional 320 shares during the last quarter. Institutional investors and hedge funds own 46.90% of the company's stock.
German American Bancorp Stock Up 2.1%
NASDAQ:GABC opened at $38.96 on Tuesday. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 14.81 and a beta of 0.62. German American Bancorp, Inc. has a twelve month low of $32.75 and a twelve month high of $47.08. The stock's 50 day moving average price is $40.13 and its two-hundred day moving average price is $38.94. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.19.
German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings results on Wednesday, September 7th. The bank reported $0.81 earnings per share for the quarter. The firm had revenue of $64.78 million for the quarter. German American Bancorp had a return on equity of 11.59% and a net margin of 20.84%. Equities research analysts expect that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.
German American Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Sunday, August 10th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.16 annualized dividend and a dividend yield of 3.0%. German American Bancorp's payout ratio is 44.11%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on GABC shares. Weiss Ratings raised German American Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Wall Street Zen raised German American Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Piper Sandler lifted their target price on German American Bancorp from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.33.
Get Our Latest Stock Report on GABC
Insider Buying and Selling at German American Bancorp
In other German American Bancorp news, Director Diane B. Medley bought 882 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were acquired at an average cost of $37.95 per share, with a total value of $33,471.90. Following the acquisition, the director owned 6,252 shares of the company's stock, valued at $237,263.40. The trade was a 16.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders purchased 1,124 shares of company stock worth $42,903. 4.59% of the stock is owned by insiders.
German American Bancorp Profile
(Free Report)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.
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