Zacks Downgrades German American Bancorp to Neutral (GABC)
German American Bancorp (NASDAQ:GABC) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, American Banking News.com reports. They currently have a $28.90 price target on the stock. Zacks‘ price objective would suggest a potential upside of 22.93% from the stock’s previous close.
German American Bancorp (NASDAQ:GABC) traded down 0.89% during mid-day trading on Tuesday, hitting $23.51. The stock had a trading volume of 18,123 shares. German American Bancorp has a 1-year low of $19.71 and a 1-year high of $28.50. The stock’s 50-day moving average is $24.8 and its 200-day moving average is $23.50. The company has a market cap of $297.8 million and a price-to-earnings ratio of 12.16.
Other equities research analysts have also recently issued reports about the stock. Analysts at Davidson initiated coverage on shares of German American Bancorp in a research note to investors on Friday, September 27th. They set a “neutral” rating on the stock. Analysts at DA Davidson initiated coverage on shares of German American Bancorp in a research note to investors on Wednesday, September 25th. They set a “neutral” rating and a $27.00 price target on the stock.
German American Bancorp, Inc is a financial services holding company. The principal subsidiary of the Company is its banking subsidiary, German American Bancorp (NASDAQ:GABC), which operates through 34 retail banking offices in 12 contiguous Southern Indiana counties.
To view Zacks’ full report, visit www.zacks.com
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