Forvis Mazars Wealth Advisors LLC Buys 405 Shares of German American Bancorp, Inc. (NASDAQ:GABC)

Forvis Mazars Wealth Advisors LLC lifted its stake in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,371 shares of the bank’s stock after acquiring an additional 405 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in German American Bancorp were worth $417,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Cerity Partners LLC boosted its holdings in German American Bancorp by 1.1% during the third quarter. Cerity Partners LLC now owns 30,922 shares of the bank’s stock worth $1,198,000 after purchasing an additional 323 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in German American Bancorp by 6.2% during the third quarter. BNP Paribas Financial Markets now owns 6,220 shares of the bank’s stock worth $241,000 after purchasing an additional 365 shares during the last quarter. Rhumbline Advisers boosted its holdings in German American Bancorp by 2.5% during the fourth quarter. Rhumbline Advisers now owns 47,284 shares of the bank’s stock worth $1,902,000 after purchasing an additional 1,153 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in German American Bancorp by 8.1% during the fourth quarter. Principal Financial Group Inc. now owns 16,665 shares of the bank’s stock worth $670,000 after purchasing an additional 1,254 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. boosted its holdings in German American Bancorp by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 62,415 shares of the bank’s stock worth $2,419,000 after purchasing an additional 1,290 shares during the last quarter. Institutional investors own 46.90% of the company’s stock.

German American Bancorp Stock Performance

Shares of GABC stock opened at $39.50 on Tuesday. The stock has a market cap of $1.17 billion, a P/E ratio of 14.01 and a beta of 0.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. The company has a fifty day moving average price of $40.14 and a two-hundred day moving average price of $40.78. German American Bancorp, Inc. has a one year low of $30.66 and a one year high of $47.08.

German American Bancorp (NASDAQ:GABC) last posted its earnings results on Monday, February 3rd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. As a group, equities analysts predict that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Monday, February 10th. This is a boost from German American Bancorp’s previous quarterly dividend of $0.27. German American Bancorp’s dividend payout ratio (DPR) is currently 41.13%.

Analyst Ratings Changes

Several brokerages recently commented on GABC. Piper Sandler reduced their target price on shares of German American Bancorp from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price target on shares of German American Bancorp from $46.00 to $47.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Finally, Hovde Group upgraded shares of German American Bancorp from a “market perform” rating to an “outperform” rating and increased their price target for the company from $41.00 to $48.00 in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.40.

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.