MGO One Seven LLC Cuts Position in German American Bancorp, Inc. $GABC

MGO One Seven LLC reduced its position in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 93.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,825 shares of the bank’s stock after selling 173,524 shares during the period. MGO One Seven LLC’s holdings in German American Bancorp were worth $494,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Silver Oak Securities Incorporated purchased a new stake in German American Bancorp during the 1st quarter worth approximately $28,000. SouthState Corp purchased a new stake in German American Bancorp during the 1st quarter worth approximately $28,000. KBC Group NV purchased a new stake in German American Bancorp during the 1st quarter worth approximately $55,000. GAMMA Investing LLC increased its stake in German American Bancorp by 2,933.8% during the 1st quarter. GAMMA Investing LLC now owns 2,063 shares of the bank’s stock worth $77,000 after buying an additional 1,995 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in German American Bancorp by 10.8% during the 1st quarter. Quantbot Technologies LP now owns 3,272 shares of the bank’s stock worth $123,000 after buying an additional 320 shares in the last quarter. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other German American Bancorp news, Director Diane B. Medley acquired 882 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were purchased at an average cost of $37.95 per share, for a total transaction of $33,471.90. Following the completion of the acquisition, the director owned 6,252 shares of the company’s stock, valued at approximately $237,263.40. The trade was a 16.42% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased 1,124 shares of company stock valued at $42,903 in the last 90 days. Corporate insiders own 6.16% of the company’s stock.

Analyst Ratings Changes

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

German American Bancorp Trading Up 1.4%

Shares of German American Bancorp stock opened at $38.17 on Friday. The stock has a market cap of $1.43 billion, a P/E ratio of 14.51 and a beta of 0.62. The stock’s 50 day simple moving average is $40.11 and its 200-day simple moving average is $38.88. 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 0.19, a current ratio of 0.86 and a quick ratio of 0.86.

German American Bancorp (NASDAQ:GABC) last released its quarterly earnings data on Wednesday, September 7th. The bank reported $0.81 EPS for the quarter. German American Bancorp had a return on equity of 11.59% and a net margin of 20.84%.The firm had revenue of $64.78 million for the quarter. Analysts predict that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Announces Dividend

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