German American Bancorp, Inc. (NASDAQ:GABC) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in German American Bancorp, Inc. (NASDAQ:GABC) by 8.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,885 shares of the bank’s stock after acquiring an additional 961 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in German American Bancorp were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GABC. Vanguard Group Inc. grew its stake in shares of German American Bancorp by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,638,166 shares of the bank’s stock valued at $44,378,000 after buying an additional 6,828 shares during the period. L.M. Kohn & Company purchased a new stake in shares of German American Bancorp during the 3rd quarter valued at $15,429,000. Charles Schwab Investment Management Inc. grew its stake in shares of German American Bancorp by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,300 shares of the bank’s stock valued at $6,022,000 after buying an additional 13,591 shares during the period. Bank of New York Mellon Corp boosted its position in German American Bancorp by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 192,497 shares of the bank’s stock valued at $5,215,000 after buying an additional 2,958 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in German American Bancorp by 16.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 89,438 shares of the bank’s stock valued at $2,423,000 after buying an additional 12,442 shares during the last quarter. 46.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other German American Bancorp news, Director Diane B. Medley purchased 1,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $33.64 per share, with a total value of $33,640.00. Following the completion of the acquisition, the director now owns 3,660 shares in the company, valued at approximately $123,122.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have acquired 1,107 shares of company stock valued at $37,113. Insiders own 6.16% of the company’s stock.

German American Bancorp Stock Performance

Shares of NASDAQ GABC opened at $32.25 on Friday. The firm’s 50-day moving average price is $32.67 and its two-hundred day moving average price is $31.25. The stock has a market capitalization of $953.96 million, a P/E ratio of 11.04 and a beta of 0.62. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.29. German American Bancorp, Inc. has a 52-week low of $24.85 and a 52-week high of $34.96.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings results on Monday, January 29th. The bank reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. The company had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $61.25 million. German American Bancorp had a return on equity of 14.26% and a net margin of 27.10%. As a group, sell-side analysts forecast that German American Bancorp, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of German American Bancorp from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Raymond James increased their price target on shares of German American Bancorp from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st.

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.