German American Bancorp, Inc. (NASDAQ:GABC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 165,885 shares of the bank’s stock after selling 657 shares during the quarter. Mutual of America Capital Management LLC owned 0.56% of German American Bancorp worth $6,428,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GABC. EntryPoint Capital LLC increased its position in German American Bancorp by 186.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock worth $71,000 after purchasing an additional 1,339 shares during the period. Renaissance Technologies LLC acquired a new position in German American Bancorp during the second quarter worth $207,000. SG Americas Securities LLC purchased a new position in German American Bancorp in the third quarter worth $247,000. Pettinga Financial Advisors LLC lifted its holdings in German American Bancorp by 6.5% in the second quarter. Pettinga Financial Advisors LLC now owns 7,291 shares of the bank’s stock valued at $258,000 after acquiring an additional 443 shares during the period. Finally, Semanteon Capital Management LP purchased a new stake in shares of German American Bancorp during the 3rd quarter worth $346,000. Institutional investors and hedge funds own 46.90% of the company’s stock.

German American Bancorp Trading Down 0.6 %

Shares of German American Bancorp stock opened at $45.15 on Wednesday. German American Bancorp, Inc. has a 1 year low of $27.23 and a 1 year high of $46.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day moving average price of $40.66 and a 200 day moving average price of $37.52. The company has a market capitalization of $1.34 billion, a P/E ratio of 16.30 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The company had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $62.80 million. German American Bancorp had a return on equity of 11.94% and a net margin of 23.75%. Sell-side analysts anticipate that German American Bancorp, Inc. will post 2.74 EPS for the current fiscal year.

German American Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.08 dividend on an annualized basis and a yield of 2.39%. German American Bancorp’s dividend payout ratio (DPR) is 38.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GABC shares. Piper Sandler increased their price target on shares of German American Bancorp from $34.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $41.00 to $48.00 in a research report on Wednesday, October 30th. Raymond James boosted their price target on German American Bancorp from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Stephens started coverage on German American Bancorp in a research note on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price objective for the company. Finally, StockNews.com downgraded German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.25.

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.