Zacks Investment Research downgraded shares of German American Bancorp (NASDAQ:GABC) from a buy rating to a hold rating in a report released on Friday morning.
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 equities analysts also recently commented on the company. BidaskClub downgraded German American Bancorp from a buy rating to a hold rating in a research report on Thursday. Sandler O’Neill set a $36.00 price objective on German American Bancorp and gave the company a hold rating in a research report on Tuesday, February 13th. Six analysts have rated the stock with a hold rating, German American Bancorp has a consensus rating of Hold and an average target price of $35.33.
Shares of German American Bancorp stock opened at $35.60 on Friday. German American Bancorp has a 52 week low of $30.32 and a 52 week high of $39.02. The stock has a market capitalization of $816.47, a PE ratio of 21.32 and a beta of 1.06. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.75.
German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, April 30th. The bank reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.03). German American Bancorp had a net margin of 29.35% and a return on equity of 10.87%. The business had revenue of $35.10 million during the quarter, compared to analysts’ expectations of $34.10 million. equities research analysts anticipate that German American Bancorp will post 2.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, May 20th. Investors of record on Thursday, May 10th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.69%. German American Bancorp’s dividend payout ratio is currently 35.93%.
Large investors have recently bought and sold shares of the stock. Field & Main Bank purchased a new stake in shares of German American Bancorp in the fourth quarter worth about $138,000. Advisor Group Inc. purchased a new stake in shares of German American Bancorp in the fourth quarter worth about $139,000. Teacher Retirement System of Texas purchased a new stake in shares of German American Bancorp in the fourth quarter worth about $262,000. MetLife Investment Advisors LLC purchased a new stake in shares of German American Bancorp in the fourth quarter worth about $358,000. Finally, SG Americas Securities LLC purchased a new stake in shares of German American Bancorp in the first quarter worth about $354,000. Institutional investors own 37.01% of the company’s stock.
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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