MGO One Seven LLC Buys Shares of 186,349 German American Bancorp, Inc. (NASDAQ:GABC)

MGO One Seven LLC bought a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) in the 1st quarter, Holdings Channel reports. The institutional investor bought 186,349 shares of the bank’s stock, valued at approximately $6,988,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. De Lisle Partners LLP bought a new stake in shares of German American Bancorp during the 1st quarter valued at $529,000. Mackenzie Financial Corp raised its position in shares of German American Bancorp by 26.9% during the 1st quarter. Mackenzie Financial Corp now owns 10,729 shares of the bank’s stock valued at $402,000 after acquiring an additional 2,275 shares during the last quarter. John G Ullman & Associates Inc. bought a new stake in shares of German American Bancorp during the 1st quarter valued at $307,000. Royce & Associates LP raised its position in shares of German American Bancorp by 35.5% during the 1st quarter. Royce & Associates LP now owns 429,760 shares of the bank’s stock valued at $16,116,000 after acquiring an additional 112,539 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its position in shares of German American Bancorp by 51.9% during the 1st quarter. KLP Kapitalforvaltning AS now owns 8,200 shares of the bank’s stock valued at $308,000 after acquiring an additional 2,800 shares during the last quarter. Institutional investors own 46.90% of the company’s stock.

German American Bancorp Price Performance

NASDAQ GABC opened at $38.84 on Thursday. The business has a 50 day simple moving average of $39.08 and a 200 day simple moving average of $38.71. German American Bancorp, Inc. has a 52-week low of $32.75 and a 52-week high of $47.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 14.77 and a beta of 0.59.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings results on Monday, July 28th. The bank reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. German American Bancorp had a net margin of 20.84% and a return on equity of 12.40%. The company had revenue of $91.16 million during the quarter, compared to analysts’ expectations of $91.93 million. Analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Sunday, August 10th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Friday, August 8th. German American Bancorp’s payout ratio is presently 46.77%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price objective on shares of German American Bancorp from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, German American Bancorp has an average rating of “Moderate Buy” and a consensus target price of $45.20.

Insiders Place Their Bets

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of German American Bancorp stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total value of $99,468.25. Following the sale, the director owned 11,673 shares of the company’s stock, valued at $461,667.15. This trade represents a 17.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have acquired 2,785 shares of company stock valued at $112,078. 6.16% of the stock is currently owned by corporate insiders.

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.