The Manufacturers Life Insurance Company Has $11.44 Million Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

The Manufacturers Life Insurance Company trimmed its stake in German American Bancorp, Inc. (NASDAQ:GABC) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 323,733 shares of the bank’s stock after selling 5,042 shares during the period. The Manufacturers Life Insurance Company’s holdings in German American Bancorp were worth $11,444,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Virtu Financial LLC acquired a new stake in German American Bancorp during the 4th quarter valued at approximately $251,000. PNC Financial Services Group Inc. raised its stake 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 worth $755,000 after buying an additional 11,732 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in German American Bancorp during the first quarter worth $1,097,000. Chatham Capital Group Inc. boosted its position in German American Bancorp by 12.8% during the first quarter. Chatham Capital Group Inc. now owns 49,476 shares of the bank’s stock valued at $1,714,000 after acquiring an additional 5,600 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in German American Bancorp by 20.6% during the 1st quarter. Diversified Trust Co now owns 12,002 shares of the bank’s stock worth $416,000 after acquiring an additional 2,050 shares during the period. 46.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GABC. StockNews.com downgraded German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Raymond James boosted their price target 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 raised their price objective on shares of 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $40.67.

Insider Buying and Selling at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley acquired 710 shares of German American Bancorp 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 completion of the acquisition, the director now directly owns 4,370 shares of the company’s stock, valued at $158,936.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Thomas W. Seger acquired 3,000 shares of the stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $36.80 per share, with a total value of $110,400.00. Following the completion of the purchase, the director now directly owns 484,342 shares in the company, valued at approximately $17,823,785.60. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Diane B. Medley bought 710 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $36.37 per share, for a total transaction of $25,822.70. Following the acquisition, the director now directly owns 4,370 shares of the company’s stock, valued at $158,936.90. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 4,078 shares of company stock worth $150,203. 6.16% of the stock is owned by corporate insiders.

German American Bancorp Stock Performance

Shares of GABC opened at $37.75 on Friday. German American Bancorp, Inc. has a one year low of $24.85 and a one year high of $42.78. The company has a market cap of $1.12 billion, a PE ratio of 13.25 and a beta of 0.62. The stock has a 50-day moving average of $38.86 and a 200-day moving average of $35.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.83.

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

German American Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Saturday, August 10th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.86%. The ex-dividend date was Friday, August 9th. German American Bancorp’s payout ratio is currently 37.89%.

German American Bancorp Company 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.