MGO One Seven LLC Acquires New Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

MGO One Seven LLC bought a new position in German American Bancorp, Inc. (NASDAQ:GABC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 186,349 shares of the bank's stock, valued at approximately $6,988,000. MGO One Seven LLC owned approximately 0.50% of German American Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Value Bank Partners LLC bought a new position in shares of German American Bancorp in the first quarter worth approximately $6,145,000. L.M. Kohn & Company raised its holdings 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 valued at $18,392,000 after buying an additional 126,236 shares during the last quarter. Royce & Associates LP boosted its position in German American Bancorp by 35.5% during the 1st quarter. Royce & Associates LP now owns 429,760 shares of the bank's stock valued at $16,116,000 after buying an additional 112,539 shares during the period. First Trust Advisors LP boosted its position in German American Bancorp by 437.1% during the 4th quarter. First Trust Advisors LP now owns 96,438 shares of the bank's stock valued at $3,879,000 after buying an additional 78,482 shares during the period. Finally, Aptus Capital Advisors LLC increased its position in shares of German American Bancorp by 40.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 188,323 shares of the bank's stock valued at $7,574,000 after acquiring an additional 54,199 shares during the period. 46.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GABC has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of German American Bancorp from a "sell" rating to a "hold" rating in a report on Saturday. Piper Sandler upped their price target on German American Bancorp from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, German American Bancorp currently has a consensus rating of "Hold" and a consensus target price of $46.00.

German American Bancorp Stock Down 2.1%

GABC traded down $0.81 during trading on Friday, reaching $37.61. The stock had a trading volume of 130,268 shares, compared to its average volume of 121,031. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 14.30 and a beta of 0.62. The stock's 50 day moving average is $39.08 and its two-hundred day moving average is $38.69. German American Bancorp, Inc. has a one year low of $32.75 and a one year high of $47.08.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The bank reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. German American Bancorp had a net margin of 20.84% and a return on equity of 12.40%. The company had revenue of $91.16 million during the quarter, compared to analyst estimates of $91.93 million. As a group, analysts expect that German American Bancorp, Inc. will post 3.06 earnings per share for the current year.

German American Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Sunday, August 10th will be paid a $0.29 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.16 annualized dividend and a dividend yield of 3.1%. German American Bancorp's dividend payout ratio is presently 44.11%.

Insider Buying and Selling at German American Bancorp

In related news, Director Jason M. Kelly sold 2,515 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total transaction of $99,468.25. Following the completion of the transaction, the director owned 11,673 shares of the company's stock, valued at $461,667.15. This trade represents a 17.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders purchased 2,785 shares of company stock valued at $112,078. Corporate insiders own 6.16% of the company's stock.

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.