German American Bancorp. (NASDAQ:GABC) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of German American Bancorp. (NASDAQ:GABC) from a hold rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “GERMAN AMERICAN BANCORP is a multi-bank holding company. Through its subsidiaries, they operate affiliated community banks with banking offices and full-service independent insurance agencies in the eight contiguous Southwestern Indiana counties of Daviess, Dubois, Gibson, Knox, Martin, Perry, Pike andS pencer. Their lines of business include retail and commercial banking, mortgage banking, trust and brokerage services, title insurance, and a full range of personal and corporate property and casualty insurance products. “

A number of other equities research analysts have also weighed in on the company. Hovde Group lowered German American Bancorp. from an outperform rating to a market perform rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. BidaskClub upgraded German American Bancorp. from a sell rating to a hold rating in a report on Saturday, July 27th.

NASDAQ GABC opened at $31.80 on Tuesday. German American Bancorp. has a 1-year low of $26.20 and a 1-year high of $34.29. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $31.44 and a 200-day moving average of $30.14. The firm has a market cap of $832.35 million, a PE ratio of 13.63 and a beta of 0.87.

German American Bancorp. (NASDAQ:GABC) last released its earnings results on Monday, July 29th. The bank reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. German American Bancorp. had a return on equity of 12.41% and a net margin of 27.51%. The company had revenue of $44.15 million during the quarter, compared to analyst estimates of $44.10 million. As a group, equities research analysts forecast that German American Bancorp. will post 2.42 earnings per share for the current fiscal year.

In related news, Director Chris A. Ramsey purchased 2,059 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $31.00 per share, for a total transaction of $63,829.00. Following the purchase, the director now directly owns 20,271 shares of the company’s stock, valued at approximately $628,401. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 3,139 shares of company stock worth $96,245 in the last 90 days. 7.91% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in German American Bancorp. by 42.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,721 shares of the bank’s stock valued at $52,000 after buying an additional 517 shares during the period. Captrust Financial Advisors grew its stake in shares of German American Bancorp. by 41.2% in the 2nd quarter. Captrust Financial Advisors now owns 1,976 shares of the bank’s stock valued at $60,000 after buying an additional 577 shares during the period. Bank of Montreal Can grew its stake in shares of German American Bancorp. by 367.3% in the 2nd quarter. Bank of Montreal Can now owns 2,486 shares of the bank’s stock valued at $75,000 after buying an additional 1,954 shares during the period. Aperio Group LLC purchased a new stake in shares of German American Bancorp. in the 2nd quarter valued at approximately $186,000. Finally, Pettinga Financial Advisors LLC grew its stake in shares of German American Bancorp. by 5.3% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 10,493 shares of the bank’s stock valued at $316,000 after buying an additional 527 shares during the period. 38.44% of the stock is currently owned by institutional investors and hedge funds.

German American Bancorp. Company Profile

German American Bancorp, Inc operates as the bank holding company for German American Bancorp that provides retail and commercial banking services. The company operates through three segments: Core Banking, Trust and Investment Advisory Services, and Insurance Operations. The Core Banking segment accepts various 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.

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