Mutual of America Capital Management LLC Invests $5.89 Million in German American Bancorp, Inc. (NASDAQ:GABC)

Mutual of America Capital Management LLC bought a new stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 166,542 shares of the bank’s stock, valued at approximately $5,887,000.

Other large investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in German American Bancorp in the second quarter valued at approximately $207,000. Dimensional Fund Advisors LP increased its stake in shares of German American Bancorp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,575 shares of the bank’s stock valued at $39,930,000 after acquiring an additional 14,478 shares in the last quarter. American Century Companies Inc. lifted its position in shares of German American Bancorp by 15.5% during the 2nd quarter. American Century Companies Inc. now owns 89,942 shares of the bank’s stock valued at $3,179,000 after acquiring an additional 12,078 shares during the period. LSV Asset Management boosted its stake in German American Bancorp by 303.3% during the second quarter. LSV Asset Management now owns 29,300 shares of the bank’s stock worth $1,036,000 after acquiring an additional 22,035 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in German American Bancorp by 2.6% in the second 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. Institutional investors and hedge funds own 46.90% of the company’s stock.

Wall Street Analyst Weigh In

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

German American Bancorp Price Performance

Shares of NASDAQ GABC opened at $39.70 on Friday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 13.93 and a beta of 0.62. 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, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $42.78. The firm’s 50-day simple moving average is $39.00 and its 200 day simple moving average is $35.03.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, July 29th. The bank reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.08. The company had revenue of $64.89 million for the quarter, compared to analysts’ expectations of $60.20 million. German American Bancorp had a return on equity of 12.97% and a net margin of 24.44%. As a group, research analysts anticipate that German American Bancorp, Inc. will post 2.7 earnings per share for the current fiscal year.

German American Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Saturday, August 10th were issued a $0.27 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.08 annualized dividend and a dividend yield of 2.72%. German American Bancorp’s dividend payout ratio is currently 37.89%.

Insider Activity at German American Bancorp

In other news, Director Thomas W. Seger acquired 3,000 shares of German American Bancorp stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $36.80 per share, with a total value of $110,400.00. Following the transaction, the director now owns 484,342 shares of the company’s stock, valued at approximately $17,823,785.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other German American Bancorp news, Director Diane B. Medley bought 710 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $36.37 per share, for a total transaction of $25,822.70. Following the purchase, the director now directly owns 4,370 shares of the company’s stock, valued at approximately $158,936.90. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas W. Seger purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $36.80 per share, for a total transaction of $110,400.00. Following the completion of the acquisition, the director now directly owns 484,342 shares in the company, valued at approximately $17,823,785.60. The disclosure for this purchase can be found here. Insiders have bought 4,078 shares of company stock valued at $150,203 over the last ninety days. Corporate insiders own 6.16% of the company’s stock.

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.