MGO One Seven LLC Invests $6.99 Million in German American Bancorp, Inc. (NASDAQ:GABC)

MGO One Seven LLC bought a new position in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 186,349 shares of the bank's stock, valued at approximately $6,988,000. MGO One Seven LLC owned about 0.50% of German American Bancorp at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in German American Bancorp by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 1,748,772 shares of the bank's stock worth $70,336,000 after acquiring an additional 40,642 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of German American Bancorp by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,140,813 shares of the bank's stock valued at $45,884,000 after purchasing an additional 8,659 shares in the last quarter. L.M. Kohn & Company grew its position in shares of German American Bancorp by 34.7% in the 1st quarter. L.M. Kohn & Company now owns 490,458 shares of the bank's stock valued at $18,392,000 after purchasing an additional 126,236 shares during the period. Royce & Associates LP increased its stake in German American Bancorp by 35.5% during the 1st quarter. Royce & Associates LP now owns 429,760 shares of the bank's stock worth $16,116,000 after purchasing an additional 112,539 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in German American Bancorp by 5.0% during the 4th quarter. Northern Trust Corp now owns 277,393 shares of the bank's stock worth $11,157,000 after buying an additional 13,330 shares during the period. 46.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jason M. Kelly sold 2,515 shares of the company'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 sale, the director owned 11,673 shares in the company, valued at $461,667.15. This represents a 17.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased 2,785 shares of company stock worth $112,078 over the last ninety days. Corporate insiders own 6.16% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler upped their price target on shares of German American Bancorp from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday.

German American Bancorp Stock Down 2.1%

German American Bancorp stock traded down $0.81 during midday trading on Friday, reaching $37.61. The stock had a trading volume of 130,268 shares, compared to its average volume of 135,598. German American Bancorp, Inc. has a 1-year low of $32.75 and a 1-year high of $47.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 0.86. The firm's fifty day simple moving average is $39.09 and its 200-day simple moving average is $38.71. The stock has a market capitalization of $1.41 billion, a P/E ratio of 14.30 and a beta of 0.59.

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

German American Bancorp Announces Dividend

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 given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.16 annualized dividend and a yield of 3.1%. German American Bancorp's dividend payout ratio is 44.11%.

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.