Mackenzie Financial Corp Purchases New Shares in German American Bancorp, Inc. (NASDAQ:GABC)

Mackenzie Financial Corp acquired a new stake in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,454 shares of the bank's stock, valued at approximately $340,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quantbot Technologies LP lifted its stake in shares of German American Bancorp by 15.2% in the 4th quarter. Quantbot Technologies LP now owns 2,952 shares of the bank's stock valued at $119,000 after purchasing an additional 389 shares during the period. Forvis Mazars Wealth Advisors LLC increased its holdings in German American Bancorp by 4.1% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 10,371 shares of the bank's stock valued at $417,000 after purchasing an additional 405 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in German American Bancorp by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,221 shares of the bank's stock valued at $652,000 after purchasing an additional 536 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in German American Bancorp by 399.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 969 shares of the bank's stock valued at $39,000 after buying an additional 775 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in German American Bancorp by 821.2% during the fourth quarter. Sterling Capital Management LLC now owns 912 shares of the bank's stock worth $37,000 after buying an additional 813 shares during the last quarter. 46.90% of the stock is owned by institutional investors.

German American Bancorp Trading Up 1.8%

Shares of GABC traded up $0.67 during trading hours on Friday, reaching $38.25. The stock had a trading volume of 108,050 shares, compared to its average volume of 109,185. The company has a market cap of $1.43 billion, a P/E ratio of 13.56 and a beta of 0.61. German American Bancorp, Inc. has a 52 week low of $31.06 and a 52 week high of $47.08. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $37.33 and a 200 day moving average of $39.60.

German American Bancorp (NASDAQ:GABC - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The bank reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.07. German American Bancorp had a return on equity of 12.04% and a net margin of 23.69%. The company had revenue of $81.41 million during the quarter, compared to analysts' expectations of $79.60 million. On average, sell-side analysts expect that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Saturday, May 10th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, May 9th. German American Bancorp's dividend payout ratio is currently 46.77%.

Insider Activity at German American Bancorp

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $39.55, for a total value of $99,468.25. Following the completion of the sale, the director now owns 11,673 shares in the company, valued at $461,667.15. This trade represents a 17.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have purchased 135 shares of company stock valued at $5,246. 6.16% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price target on German American Bancorp from $44.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, German American Bancorp currently has an average rating of "Hold" and an average target price of $45.20.

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.