35,814 Shares in German American Bancorp, Inc. $GABC Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in German American Bancorp, Inc. (NASDAQ:GABC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 35,814 shares of the bank’s stock, valued at approximately $1,732,000.

Several other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in German American Bancorp during the 2nd quarter worth $142,155,000. Dimensional Fund Advisors LP increased its stake in shares of German American Bancorp by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,958 shares of the bank’s stock valued at $50,982,000 after buying an additional 31,627 shares during the period. German American Bancorp Inc. increased its stake in shares of German American Bancorp by 1.3% in the 1st quarter. German American Bancorp Inc. now owns 966,872 shares of the bank’s stock valued at $40,406,000 after buying an additional 12,585 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of German American Bancorp during the second quarter worth $14,364,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of German American Bancorp during the second quarter worth $10,440,000. Institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Performance

Shares of German American Bancorp stock opened at $50.08 on Friday. The firm has a fifty day moving average of $49.47 and a two-hundred day moving average of $45.91. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 12.91 and a beta of 0.62. German American Bancorp, Inc. has a 52 week low of $37.73 and a 52 week high of $52.39. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.86 and a current ratio of 0.86.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings results on Monday, October 26th. The bank reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.02. German American Bancorp had a return on equity of 12.33% and a net margin of 28.78%. The business had revenue of $103.68 million for the quarter, compared to analyst estimates of $102.65 million. As a group, equities research analysts predict that German American Bancorp, Inc. will post 3.95 EPS for the current year.

German American Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.24 dividend on an annualized basis and a yield of 2.5%. German American Bancorp’s dividend payout ratio (DPR) is 31.96%.

Analyst Upgrades and Downgrades

GABC has been the topic of several research reports. Zacks Research raised German American Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Weiss Ratings lowered German American Bancorp from a “buy (a)” rating to a “buy (a-)” rating in a research report on Wednesday. Wall Street Zen upgraded German American Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Piper Sandler reissued an “overweight” rating and set a $60.00 price objective (up from $51.00) on shares of German American Bancorp in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods upped their target price on shares of German American Bancorp from $47.00 to $51.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $53.33.

German American Bancorp Company Profile

German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides banking, wealth management, and insurance services to individuals, families, farmers, and businesses.

German American Bank offers deposit accounts, residential and commercial real estate loans, agricultural financing, commercial loans, consumer loans, mortgage services, and other traditional banking products. Its wealth management operations provide trust administration, investment management, financial planning, and related services, while its insurance business offers personal and commercial insurance products.

Founded in 1910, German American Bancorp has built a community banking franchise serving southern Indiana and neighboring communities in Kentucky and Ohio.