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

The Manufacturers Life Insurance Company lowered its stake in German American Bancorp, Inc. (NASDAQ:GABC) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 317,586 shares of the bank’s stock after selling 6,147 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in German American Bancorp were worth $12,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new position in shares of German American Bancorp in the third quarter worth approximately $597,000. LSV Asset Management grew its position in German American Bancorp by 303.3% during the 2nd quarter. LSV Asset Management now owns 29,300 shares of the bank’s stock worth $1,036,000 after purchasing an additional 22,035 shares in the last quarter. German American Bancorp Inc. raised its stake in German American Bancorp by 160.1% during the 3rd quarter. German American Bancorp Inc. now owns 514,018 shares of the bank’s stock valued at $19,918,000 after purchasing an additional 316,400 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of German American Bancorp by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,019 shares of the bank’s stock valued at $1,040,000 after purchasing an additional 2,326 shares in the last quarter. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of German American Bancorp in the second quarter worth $5,887,000. Institutional investors and hedge funds own 46.90% of the company’s stock.

German American Bancorp Stock Performance

Shares of GABC stock opened at $44.90 on Tuesday. German American Bancorp, Inc. has a fifty-two week low of $29.61 and a fifty-two week high of $47.08. The stock’s 50-day moving average is $41.62 and its two-hundred day moving average is $38.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $1.33 billion, a P/E ratio of 16.21 and a beta of 0.61.

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

German American Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend 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 currently 38.99%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Hovde Group upgraded German American Bancorp from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $41.00 to $48.00 in a research report on Wednesday, October 30th. Stephens initiated coverage on shares of German American Bancorp in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.25.

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.