Zacks Investment Research upgraded shares of German American Bancorp. (NASDAQ:GABC) from a hold rating to a buy rating in a research report sent to investors on Friday, March 16th. Zacks Investment Research currently has $39.00 price target on the bank’s stock.
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. “
Several other brokerages have also weighed in on GABC. 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. BidaskClub upgraded German American Bancorp. from a strong sell rating to a sell rating in a research note on Saturday, January 20th. Finally, Hovde Group restated a hold rating on shares of German American Bancorp. in a research note on Wednesday, January 3rd. Seven investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and a consensus price target of $38.25.
GABC stock traded down $0.64 during mid-day trading on Friday, reaching $33.34. The company had a trading volume of 29,357 shares, compared to its average volume of 41,995. 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 firm has a market capitalization of $764.62, a P/E ratio of 19.96 and a beta of 1.04. German American Bancorp. has a fifty-two week low of $29.75 and a fifty-two week high of $39.02.
German American Bancorp. (NASDAQ:GABC) last posted its quarterly earnings results on Monday, January 29th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). German American Bancorp. had a net margin of 28.47% and a return on equity of 10.80%. The company had revenue of $33.05 million during the quarter, compared to analyst estimates of $33.76 million. analysts expect that German American Bancorp. will post 2.02 EPS for the current year.
Several hedge funds have recently made changes to their positions in GABC. SG Americas Securities LLC purchased a new position in shares of German American Bancorp. in the 3rd quarter valued at approximately $114,000. Great West Life Assurance Co. Can purchased a new position in shares of German American Bancorp. in the 3rd quarter valued at approximately $116,000. Field & Main Bank purchased a new position in shares of German American Bancorp. in the 4th quarter valued at approximately $138,000. Advisor Group Inc. purchased a new position in shares of German American Bancorp. in the 4th quarter valued at approximately $139,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of German American Bancorp. in the 4th quarter valued at approximately $262,000. Institutional investors own 36.92% of the company’s stock.
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About German American Bancorp.
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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