German American Bancorp. (GABC) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of German American Bancorp. (NASDAQ:GABC) from a buy rating to a hold rating in a report issued on Thursday.

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. “

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A number of other analysts also recently issued reports on GABC. BidaskClub downgraded German American Bancorp. from a hold rating to a sell rating in a research report on Saturday, December 9th. Hovde Group reissued a hold rating on shares of German American Bancorp. in a research report on Wednesday, January 3rd. Finally, Sandler O’Neill set a $38.00 target price on German American Bancorp. and gave the stock a hold rating in a research report on Wednesday, January 3rd. Seven research analysts have rated the stock with a hold rating, German American Bancorp. presently has a consensus rating of Hold and an average price target of $38.25.

Shares of GABC opened at $33.34 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $764.62, a P/E ratio of 21.65 and a beta of 1.04. German American Bancorp. has a 12 month low of $29.75 and a 12 month high of $39.02.

German American Bancorp. (NASDAQ:GABC) last released its earnings results on Monday, January 29th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.01). German American Bancorp. had a return on equity of 10.80% and a net margin of 28.47%. The firm had revenue of $33.05 million during the quarter, compared to analysts’ expectations of $33.76 million. equities research analysts predict that German American Bancorp. will post 2.02 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in GABC. SG Americas Securities LLC purchased a new stake in German American Bancorp. in the third quarter worth $114,000. Great West Life Assurance Co. Can bought a new position in shares of German American Bancorp. in the third quarter worth $116,000. Wells Fargo & Company MN boosted its holdings in shares of German American Bancorp. by 49.1% in the third quarter. Wells Fargo & Company MN now owns 26,531 shares of the bank’s stock worth $1,009,000 after acquiring an additional 8,734 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of German American Bancorp. by 2.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 92,523 shares of the bank’s stock worth $3,519,000 after acquiring an additional 2,259 shares during the period. Finally, Grandeur Peak Global Advisors LLC bought a new position in shares of German American Bancorp. in the third quarter worth $691,000. 36.92% of the stock is owned by institutional investors and hedge funds.

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German American Bancorp. Company Profile

German American Bancorp, Inc is a bank holding company. As of December 31, 2016, the Company, through its banking subsidiary German American Bancorp, operated 51 banking offices in 19 contiguous southern Indiana counties and one northern Kentucky county. Its segments are core banking, trust and investment advisory services, insurance, and other.

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