Bank of New York Mellon Corp Increases Stake in German American Bancorp, Inc. (NASDAQ:GABC)

Bank of New York Mellon Corp raised its holdings in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 196,347 shares of the bank's stock after purchasing an additional 20,289 shares during the quarter. Bank of New York Mellon Corp owned 0.66% of German American Bancorp worth $7,897,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Forvis Mazars Wealth Advisors LLC boosted its stake in shares of German American Bancorp by 4.1% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 10,371 shares of the bank's stock worth $417,000 after buying an additional 405 shares during the last quarter. Principal Financial Group Inc. boosted its position in German American Bancorp by 8.1% in the 4th quarter. Principal Financial Group Inc. now owns 16,665 shares of the bank's stock worth $670,000 after purchasing an additional 1,254 shares in the last quarter. Rhumbline Advisers grew its stake in shares of German American Bancorp by 2.5% during the 4th quarter. Rhumbline Advisers now owns 47,284 shares of the bank's stock worth $1,902,000 after purchasing an additional 1,153 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of German American Bancorp by 64.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 33,886 shares of the bank's stock worth $1,363,000 after purchasing an additional 13,276 shares during the period. Finally, CFC Planning Co LLC purchased a new position in shares of German American Bancorp during the 4th quarter valued at approximately $761,000. 46.90% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, Director Diane B. Medley acquired 1,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $39.21 per share, with a total value of $39,210.00. Following the transaction, the director now owns 5,370 shares of the company's stock, valued at approximately $210,557.70. This trade represents a 22.88 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders acquired 1,086 shares of company stock valued at $42,621. 6.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Piper Sandler lowered their price target on shares of German American Bancorp from $49.00 to $48.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price objective on German American Bancorp from $46.00 to $47.00 and gave the company a "market perform" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $46.40.

German American Bancorp Trading Up 0.5 %

Shares of GABC stock traded up $0.18 on Wednesday, hitting $39.01. 81,109 shares of the stock traded hands, compared to its average volume of 98,886. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $1.46 billion, a PE ratio of 13.83 and a beta of 0.60. The firm's 50-day moving average price is $39.63 and its two-hundred day moving average price is $40.80. German American Bancorp, Inc. has a twelve month low of $31.06 and a twelve month high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, beating the consensus estimate 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, analysts anticipate that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, February 10th. This is a boost 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 2.97%. German American Bancorp's dividend payout ratio is currently 41.13%.

About German American Bancorp

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.