Mirae Asset Global Investments Co. Ltd. Has $692,000 Position in German American Bancorp, Inc. (NASDAQ:GABC)

Mirae Asset Global Investments Co. Ltd. raised its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 12.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,090 shares of the bank’s stock after acquiring an additional 1,986 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of German American Bancorp worth $692,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Creative Planning lifted its stake in shares of German American Bancorp by 42.2% in the 3rd quarter. Creative Planning now owns 16,321 shares of the bank’s stock valued at $632,000 after purchasing an additional 4,840 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in 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 buying an additional 1,097 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of German American Bancorp in the third quarter worth about $247,000. AQR Capital Management LLC boosted its stake in shares of German American Bancorp by 180.9% during the 2nd quarter. AQR Capital Management LLC now owns 17,761 shares of the bank’s stock worth $628,000 after acquiring an additional 11,439 shares in the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in shares of German American Bancorp during the 2nd quarter valued at about $5,887,000. 46.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GABC has been the subject of a number of recent analyst reports. 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. StockNews.com downgraded shares of German American Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Raymond James upped their price target on shares of German American Bancorp from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Stephens initiated coverage on German American Bancorp in a research report on Tuesday, October 15th. They issued an “overweight” rating and a $45.00 price target on the stock. Finally, Hovde Group raised German American Bancorp from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $41.00 to $48.00 in a research report on Wednesday. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.25.

Insider Activity at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley purchased 710 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $36.37 per share, for a total transaction of $25,822.70. Following the completion of the purchase, the director now directly owns 4,370 shares of the company’s stock, valued at approximately $158,936.90. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Thomas W. Seger bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $36.80 per share, for a total transaction of $110,400.00. Following the transaction, the director now directly owns 484,342 shares of the company’s stock, valued at $17,823,785.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Diane B. Medley purchased 710 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $36.37 per share, for a total transaction of $25,822.70. Following the purchase, the director now owns 4,370 shares in the company, valued at $158,936.90. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,732 shares of company stock worth $137,119. 6.16% of the stock is owned by corporate insiders.

German American Bancorp Price Performance

Shares of German American Bancorp stock opened at $40.34 on Friday. The firm has a fifty day moving average price of $39.36 and a two-hundred day moving average price of $36.39. German American Bancorp, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $42.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $1.20 billion, a PE ratio of 14.56 and a beta of 0.61.

German American Bancorp (NASDAQ:GABC) last released its earnings results on Monday, October 28th. The bank reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. The business 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 12.27% and a net margin of 23.75%. Analysts expect that German American Bancorp, Inc. will post 2.71 EPS for the current year.

German American Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Sunday, November 10th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Friday, November 8th. German American Bancorp’s dividend payout ratio is presently 38.99%.

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.