German American Bancorp. (NASDAQ:GABC) Cut to Hold at BidaskClub

BidaskClub cut shares of German American Bancorp. (NASDAQ:GABC) from a buy rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of German American Bancorp. from a hold rating to a sell rating in a research report on Thursday, October 31st. Hovde Group downgraded shares of German American Bancorp. from an outperform rating to a market perform rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th.

Shares of NASDAQ:GABC traded down $0.16 during trading hours on Thursday, reaching $33.58. The stock had a trading volume of 33,300 shares, compared to its average volume of 59,629. German American Bancorp. has a 1 year low of $26.20 and a 1 year high of $34.50. The firm’s 50 day moving average is $32.60 and its 200-day moving average is $30.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.90 and a current ratio of 0.92. The stock has a market capitalization of $890.77 million, a price-to-earnings ratio of 15.69 and a beta of 0.84.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Sunday, November 10th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, November 7th. German American Bancorp.’s dividend payout ratio is presently 31.78%.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of German American Bancorp. by 3.9% in the 2nd quarter. BlackRock Inc. now owns 1,659,282 shares of the bank’s stock valued at $49,977,000 after purchasing an additional 62,219 shares during the last quarter. Vanguard Group Inc. increased its position in shares of German American Bancorp. by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,059,305 shares of the bank’s stock valued at $31,907,000 after purchasing an additional 81,740 shares during the last quarter. Northern Trust Corp increased its position in shares of German American Bancorp. by 1.0% in the 2nd quarter. Northern Trust Corp now owns 426,690 shares of the bank’s stock valued at $12,852,000 after purchasing an additional 4,086 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of German American Bancorp. by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 325,050 shares of the bank’s stock valued at $9,791,000 after purchasing an additional 38,000 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its position in shares of German American Bancorp. by 115.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 186,893 shares of the bank’s stock valued at $5,629,000 after purchasing an additional 99,983 shares during the last quarter. 39.86% of the stock is currently owned by institutional investors.

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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