Mirae Asset Global Investments Co. Ltd. Makes New $1.73 Million Investment in German American Bancorp, Inc. $GABC

Mirae Asset Global Investments Co. Ltd. purchased a new stake in German American Bancorp, Inc. (NASDAQ:GABC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,814 shares of the bank’s stock, valued at approximately $1,732,000. Mirae Asset Global Investments Co. Ltd. owned 0.10% of German American Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. USA Financial Formulas acquired a new stake in shares of German American Bancorp during the 3rd quarter valued at about $40,000. Sequoia Financial Advisors LLC acquired a new position in German American Bancorp in the second quarter worth about $593,000. Tidal Investments LLC acquired a new position in German American Bancorp in the second quarter worth about $624,000. Susquehanna Fundamental Investments LLC lifted its stake in German American Bancorp by 22.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 22,409 shares of the bank’s stock worth $1,064,000 after purchasing an additional 4,035 shares during the period. Finally, Field & Main Bank bought a new position in German American Bancorp during the second quarter worth about $142,000. Institutional investors own 46.90% of the company’s stock.

German American Bancorp Trading Down 0.9%

GABC stock opened at $50.08 on Friday. The business has a fifty day moving average price of $49.47 and a 200 day moving average price of $45.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.86 and a quick ratio of 0.86. German American Bancorp, Inc. has a fifty-two week low of $37.73 and a fifty-two week high of $52.39. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 12.91 and a beta of 0.62.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings data on Monday, October 26th. The bank reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. German American Bancorp had a return on equity of 12.33% and a net margin of 28.78%. The company had revenue of $103.68 million for the quarter, compared to analyst estimates of $102.65 million. Analysts expect that German American Bancorp, Inc. will post 3.95 EPS for the current fiscal year.

German American Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Tuesday, November 10th will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.24 annualized dividend and a yield of 2.5%. German American Bancorp’s dividend payout ratio is 31.96%.

Analyst Upgrades and Downgrades

GABC has been the topic of a number of recent research reports. Weiss Ratings downgraded German American Bancorp from a “buy (a)” rating to a “buy (a-)” rating in a report on Wednesday. Wall Street Zen upgraded German American Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Piper Sandler reissued an “overweight” rating and issued a $60.00 target price (up from $51.00) on shares of German American Bancorp in a report on Thursday, July 30th. Keefe, Bruyette & Woods raised their target price on German American Bancorp from $47.00 to $51.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Finally, Zacks Research upgraded German American Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $53.33.

About German American Bancorp

German American Bancorp, Inc is a financial holding company headquartered in Jasper, Indiana. Through its principal subsidiary, German American Bank, the company provides banking, wealth management, and insurance services to individuals, families, farmers, and businesses.

German American Bank offers deposit accounts, residential and commercial real estate loans, agricultural financing, commercial loans, consumer loans, mortgage services, and other traditional banking products. Its wealth management operations provide trust administration, investment management, financial planning, and related services, while its insurance business offers personal and commercial insurance products.

Founded in 1910, German American Bancorp has built a community banking franchise serving southern Indiana and neighboring communities in Kentucky and Ohio.