German American Bancorp, Inc. $GABC Shares Sold by MGO One Seven LLC

Key Points

• MGO One Seven LLC significantly reduced its holdings in German American Bancorp by 93.1%, selling 173,524 shares during the second quarter.
• The company declared a quarterly dividend of $0.29 per share, representing an annualized dividend of $1.16 with a yield of 3.0%.
• Recent analyst ratings for German American Bancorp show a consensus of "Moderate Buy", with a price target averaging $46.33.

MGO One Seven LLC lowered its position in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 93.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 12,825 shares of the bank's stock after selling 173,524 shares during the quarter. MGO One Seven LLC's holdings in German American Bancorp were worth $494,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GABC. Raymond James Financial Inc. acquired a new stake in German American Bancorp during the 1st quarter worth about $19,336,000. Vanguard Group Inc. lifted its position in German American Bancorp by 20.4% during the 1st quarter. Vanguard Group Inc. now owns 2,106,784 shares of the bank's stock worth $79,004,000 after acquiring an additional 357,360 shares during the period. Strategic Value Bank Partners LLC acquired a new stake in German American Bancorp during the 1st quarter worth about $6,145,000. Focus Partners Wealth acquired a new stake in German American Bancorp during the 1st quarter worth about $5,987,000. Finally, L.M. Kohn & Company lifted its position in German American Bancorp by 34.7% during the 1st quarter. L.M. Kohn & Company now owns 490,458 shares of the bank's stock worth $18,392,000 after acquiring an additional 126,236 shares during the period. Institutional investors and hedge funds own 46.90% of the company's stock.

German American Bancorp Stock Performance

NASDAQ GABC opened at $38.17 on Friday. The stock has a 50-day simple moving average of $40.11 and a two-hundred day simple moving average of $38.88. The firm has a market capitalization of $1.43 billion, a P/E ratio of 14.51 and a beta of 0.62. German American Bancorp, Inc. has a fifty-two week low of $32.75 and a fifty-two week high of $47.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86.

German American Bancorp (NASDAQ:GABC - Get Free Report) last released its quarterly earnings data on Wednesday, September 7th. The bank reported $0.81 earnings per share for the quarter. German American Bancorp had a return on equity of 11.59% and a net margin of 20.84%.The business had revenue of $64.78 million during the quarter. On average, equities analysts forecast that German American Bancorp, Inc. will post 3.06 earnings per share for the current year.

German American Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Sunday, August 10th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, August 8th. German American Bancorp's payout ratio is currently 44.11%.

Insider Buying and Selling at German American Bancorp

In other German American Bancorp news, Director Diane B. Medley purchased 882 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $37.95 per share, for a total transaction of $33,471.90. Following the purchase, the director directly owned 6,252 shares in the company, valued at approximately $237,263.40. This trade represents a 16.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 1,124 shares of company stock valued at $42,903. 6.16% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on GABC. Piper Sandler lifted their price target on German American Bancorp from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded German American Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Weiss Ratings upgraded German American Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, German American Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $46.33.

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.

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