Bank of New York Mellon Corp Acquires 8,028 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Bank of New York Mellon Corp increased its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 4.1% in the second quarter, HoldingsChannel reports. The firm owned 202,717 shares of the bank’s stock after purchasing an additional 8,028 shares during the period. Bank of New York Mellon Corp’s holdings in German American Bancorp were worth $7,166,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position in shares of German American Bancorp by 7.9% in the fourth quarter. Victory Capital Management Inc. now owns 31,950 shares of the bank’s stock worth $1,036,000 after buying an additional 2,341 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in German American Bancorp by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 227,390 shares of the bank’s stock worth $7,370,000 after purchasing an additional 5,090 shares during the period. Dimensional Fund Advisors LP grew its holdings in German American Bancorp by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,093,033 shares of the bank’s stock valued at $35,426,000 after purchasing an additional 30,050 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in German American Bancorp by 101.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 23,295 shares of the bank’s stock valued at $755,000 after purchasing an additional 11,732 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of German American Bancorp by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 1,305,881 shares of the bank’s stock valued at $42,324,000 after purchasing an additional 177,399 shares during the period. 46.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of German American Bancorp from $34.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Raymond James raised their price target on German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. StockNews.com cut German American Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Finally, Hovde Group raised their price objective on shares of German American Bancorp from $33.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.67.

German American Bancorp Stock Down 1.6 %

NASDAQ GABC opened at $38.08 on Thursday. German American Bancorp, Inc. has a twelve month low of $24.85 and a twelve month high of $42.78. The stock has a market cap of $1.13 billion, a PE ratio of 13.36 and a beta of 0.62. The firm has a 50-day simple moving average of $38.42 and a 200 day simple moving average of $34.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 0.83.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, July 29th. The bank reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. German American Bancorp had a return on equity of 12.97% and a net margin of 24.44%. The company had revenue of $64.89 million during the quarter, compared to the consensus estimate of $60.20 million. On average, research analysts forecast that German American Bancorp, Inc. will post 2.7 EPS for the current year.

German American Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Saturday, August 10th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 9th. This represents a $1.08 dividend on an annualized basis and a yield of 2.84%. German American Bancorp’s dividend payout ratio is currently 37.89%.

Insider Buying and Selling at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley bought 710 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $36.37 per share, with a total value of $25,822.70. Following the completion of the purchase, the director now directly owns 4,370 shares in the company, valued at approximately $158,936.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Thomas W. Seger bought 3,000 shares of German American Bancorp stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the purchase, the director now owns 484,342 shares of the company’s stock, valued at $17,823,785.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diane B. Medley bought 710 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $36.37 per share, for a total transaction of $25,822.70. Following the acquisition, the director now owns 4,370 shares in the company, valued at approximately $158,936.90. The disclosure for this purchase can be found here. Insiders have acquired 4,104 shares of company stock valued at $151,040 in the last 90 days. 6.16% of the stock is currently owned by company 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.