Mutual of America Capital Management LLC Acquires 28,540 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Mutual of America Capital Management LLC boosted its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,425 shares of the bank's stock after acquiring an additional 28,540 shares during the period. Mutual of America Capital Management LLC owned 0.66% of German American Bancorp worth $7,820,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. German American Bancorp Inc. increased its stake in shares of German American Bancorp by 160.1% in the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank's stock valued at $19,918,000 after purchasing an additional 316,400 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of German American Bancorp by 13.0% in 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 last quarter. Barclays PLC increased its stake in shares of German American Bancorp by 577.6% in 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 last quarter. State Street Corp increased its stake in shares of German American Bancorp by 6.9% in 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 last quarter. Finally, Royce & Associates LP increased its stake in shares of German American Bancorp by 43.3% in 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 last quarter. Institutional investors own 46.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GABC. Keefe, Bruyette & Woods lifted their price target on 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 decreased their price target on 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 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.com, the stock has a consensus rating of "Hold" and an average target price of $46.40.

Insiders Place Their Bets

In related news, Director Diane B. Medley bought 1,000 shares of the business's 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 acquisition, the director now owns 5,370 shares of the company's stock, valued at $210,557.70. This represents a 22.88 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 1,083 shares of company stock valued at $42,607. 4.59% of the stock is currently owned by company insiders.

German American Bancorp Price Performance

Shares of NASDAQ GABC traded down $0.40 during mid-day trading on Thursday, hitting $38.50. 27,940 shares of the stock traded hands, compared to its average volume of 115,301. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. German American Bancorp, Inc. has a twelve month low of $31.06 and a twelve month high of $47.08. The company has a market cap of $1.14 billion, a PE ratio of 13.65 and a beta of 0.60. The firm has a 50 day simple moving average of $39.91 and a two-hundred day simple moving average of $40.87.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The bank reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.09. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. As a group, equities research analysts forecast that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a dividend of $0.29 per share. 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 annualized dividend and a yield of 3.01%. German American Bancorp's payout ratio is presently 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.