German American Bancorp, Inc. (NASDAQ:GABC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

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 research analysts have also recently weighed in on GABC. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $47.00 target price on shares of German American Bancorp in a research note on Monday, April 10th. Sandler O’Neill cut German American Bancorp from a “buy” rating to a “hold” rating and raised their target price for the company from $33.00 to $36.00 in a research note on Wednesday, April 26th. Hilliard Lyons reaffirmed an “underperform” rating and set a $33.00 target price on shares of German American Bancorp in a research note on Wednesday, April 26th. Finally, BidaskClub raised German American Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $38.00.

German American Bancorp (GABC) traded down 0.60% during midday trading on Tuesday, hitting $33.01. 61,595 shares of the company traded hands. German American Bancorp has a 12-month low of $30.32 and a 12-month high of $54.46. The stock has a 50 day moving average of $34.06 and a 200 day moving average of $40.05. The stock has a market cap of $756.89 million, a P/E ratio of 19.07 and a beta of 1.16.

German American Bancorp (NASDAQ:GABC) last announced its earnings results on Monday, July 31st. The bank reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. German American Bancorp had a return on equity of 11.75% and a net margin of 28.12%. The business had revenue of $32.61 million during the quarter, compared to analysts’ expectations of $33.20 million. Equities research analysts predict that German American Bancorp will post $1.72 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System purchased a new position in shares of German American Bancorp during the fourth quarter valued at $249,000. State Street Corp raised its position in German American Bancorp by 13.6% in the fourth quarter. State Street Corp now owns 261,893 shares of the bank’s stock worth $13,779,000 after buying an additional 31,374 shares during the period. First Trust Advisors LP raised its position in German American Bancorp by 9.6% in the first quarter. First Trust Advisors LP now owns 28,245 shares of the bank’s stock worth $1,337,000 after buying an additional 2,477 shares during the period. US Bancorp DE raised its position in German American Bancorp by 0.4% in the first quarter. US Bancorp DE now owns 9,055 shares of the bank’s stock worth $429,000 after buying an additional 38 shares during the period. Finally, Bank of New York Mellon Corp raised its position in German American Bancorp by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 86,367 shares of the bank’s stock worth $4,088,000 after buying an additional 4,849 shares during the period. 22.95% of the stock is owned by institutional investors and hedge funds.

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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