German American Bancorp Inc. (GABC) Downgraded to “Hold” at Zacks Investment Research
German American Bancorp Inc. (NASDAQ:GABC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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. “
Other research analysts also recently issued reports about the stock. Raymond James Financial Inc. downgraded shares of German American Bancorp from an “outperform” rating to a “market perform” rating in a research report on Thursday. Sandler O’Neill assumed coverage on shares of German American Bancorp in a report on Thursday, August 25th. They set a “hold” rating for the company.
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German American Bancorp (NASDAQ:GABC) traded up 0.90% on Monday, reaching $38.20. The company had a trading volume of 29,518 shares. German American Bancorp has a one year low of $29.24 and a one year high of $40.12. The stock has a market cap of $582.82 million, a price-to-earnings ratio of 17.52 and a beta of 1.00. The company has a 50-day moving average of $37.38 and a 200 day moving average of $33.97.
German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, July 25th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. German American Bancorp had a net margin of 25.22% and a return on equity of 11.40%. On average, equities research analysts predict that German American Bancorp will post $2.39 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in GABC. US Bancorp DE increased its position in shares of German American Bancorp by 0.3% in the second quarter. US Bancorp DE now owns 8,921 shares of the company’s stock valued at $285,000 after buying an additional 31 shares during the period. BlackRock Group LTD boosted its stake in shares of German American Bancorp by 96.9% in the second quarter. BlackRock Group LTD now owns 3,975 shares of the company’s stock valued at $128,000 after buying an additional 1,956 shares in the last quarter. BlackRock Inc. boosted its stake in shares of German American Bancorp by 229.2% in the second quarter. BlackRock Inc. now owns 3,318 shares of the company’s stock valued at $106,000 after buying an additional 2,310 shares in the last quarter. BlackRock Investment Management LLC boosted its stake in shares of German American Bancorp by 4.4% in the second quarter. BlackRock Investment Management LLC now owns 62,187 shares of the company’s stock valued at $1,988,000 after buying an additional 2,637 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its stake in shares of German American Bancorp by 0.4% in the second quarter. BlackRock Advisors LLC now owns 7,605 shares of the company’s stock valued at $243,000 after buying an additional 32 shares in the last quarter. Institutional investors own 28.29% of the company’s stock.
About German American Bancorp
German American Bancorp, Inc is a bank holding company. The Company’s operating segments include core banking, trust and investment advisory services, and insurance operations. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Company’s local markets.
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