The Manufacturers Life Insurance Company Trims Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

The Manufacturers Life Insurance Company lessened its stake in German American Bancorp, Inc. (NASDAQ:GABC) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 317,586 shares of the bank’s stock after selling 6,147 shares during the period. The Manufacturers Life Insurance Company owned about 1.07% of German American Bancorp worth $12,306,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in German American Bancorp by 1.1% during the third quarter. Cerity Partners LLC now owns 30,922 shares of the bank’s stock valued at $1,198,000 after purchasing an additional 323 shares during the last quarter. 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 worth $258,000 after acquiring an additional 443 shares during the last quarter. Chatham Capital Group Inc. boosted its stake in German American Bancorp by 1.7% in the second quarter. Chatham Capital Group Inc. now owns 50,316 shares of the bank’s stock valued at $1,779,000 after acquiring an additional 840 shares during the period. Valeo Financial Advisors LLC grew its holdings in shares of German American Bancorp by 5.6% during the third quarter. Valeo Financial Advisors LLC now owns 20,610 shares of the bank’s stock valued at $799,000 after purchasing an additional 1,097 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of German American Bancorp by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 47,992 shares of the bank’s stock worth $1,697,000 after purchasing an additional 1,214 shares during the period. 46.90% of the stock is owned by institutional investors and hedge funds.

German American Bancorp Trading Down 0.2 %

Shares of GABC stock opened at $44.90 on Tuesday. German American Bancorp, Inc. has a 1 year low of $29.61 and a 1 year high of $47.08. The firm has a market capitalization of $1.33 billion, a PE ratio of 16.21 and a beta of 0.61. The stock has a fifty day moving average of $41.62 and a two-hundred day moving average of $38.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.81 and a current ratio of 0.81.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. The business had revenue of $62.40 million during the quarter, compared to the consensus estimate of $62.80 million. German American Bancorp had a net margin of 23.75% and a return on equity of 11.94%. As a group, research analysts expect that German American Bancorp, Inc. will post 2.76 EPS for the current year.

German American Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Sunday, November 10th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, November 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.41%. German American Bancorp’s dividend payout ratio is presently 38.99%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GABC. Hovde Group upgraded German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $41.00 to $48.00 in a research report on Wednesday, October 30th. Stephens began coverage on shares of German American Bancorp in a report on Tuesday, October 15th. They set an “overweight” rating and a $45.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.25.

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.