Forvis Mazars Wealth Advisors LLC Has $417,000 Stock Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

Forvis Mazars Wealth Advisors LLC increased its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 4.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,371 shares of the bank’s stock after purchasing an additional 405 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in German American Bancorp were worth $417,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Cerity Partners LLC increased its position 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 acquiring an additional 323 shares during the period. BNP Paribas Financial Markets increased its position 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 acquiring an additional 365 shares during the period. Rhumbline Advisers increased its position 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 acquiring an additional 1,153 shares during the period. Principal Financial Group Inc. increased its position 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 acquiring an additional 1,254 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. increased its position 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 acquiring an additional 1,290 shares during the period. 46.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

German American Bancorp Price Performance

Shares of NASDAQ:GABC opened at $39.50 on Tuesday. The firm has a 50 day moving average of $40.14 and a 200-day moving average of $40.78. The stock has a market capitalization of $1.17 billion, a PE ratio of 14.01 and a beta of 0.64. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.27. German American Bancorp, Inc. has a 12 month low of $30.66 and a 12 month high of $47.08.

German American Bancorp (NASDAQ:GABC) last issued its earnings results on Monday, February 3rd. The bank reported $0.78 EPS for the quarter, beating the consensus estimate of $0.69 by $0.09. German American Bancorp had a net margin of 23.69% and a return on equity of 12.04%. On average, equities research analysts predict that German American Bancorp, Inc. will post 3.06 EPS for the current fiscal year.

German American Bancorp Increases Dividend

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

About German American Bancorp

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.