German American Bancorp. (NASDAQ:GABC) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of German American Bancorp. (NASDAQ:GABC) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

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. “

GABC has been the topic of a number of other research reports. ValuEngine lowered German American Bancorp. from a hold rating to a sell rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $31.00 price target (up previously from $30.00) on shares of German American Bancorp. in a research report on Friday, May 8th. TheStreet raised German American Bancorp. from a c+ rating to a b- rating in a research report on Friday, June 12th. Finally, BidaskClub downgraded German American Bancorp. from a hold rating to a sell rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $32.33.

NASDAQ:GABC traded down $0.27 during mid-day trading on Thursday, hitting $28.44. The company had a trading volume of 58,454 shares, compared to its average volume of 48,663. The firm has a market cap of $753.69 million, a P/E ratio of 13.61 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 0.89. The business’s fifty day moving average is $29.44 and its two-hundred day moving average is $30.06. German American Bancorp. has a fifty-two week low of $23.54 and a fifty-two week high of $36.17.

German American Bancorp. (NASDAQ:GABC) last released its quarterly earnings results on Monday, July 27th. The bank reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.18. The company had revenue of $50.88 million for the quarter, compared to analyst estimates of $48.85 million. German American Bancorp. had a return on equity of 10.01% and a net margin of 24.05%. Equities analysts forecast that German American Bancorp. will post 2.13 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Monday, August 10th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, August 7th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.67%. German American Bancorp.’s payout ratio is presently 32.34%.

Large investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. bought a new position in shares of German American Bancorp. during the first quarter worth about $113,000. Northwestern Mutual Wealth Management Co. bought a new position in German American Bancorp. in the first quarter valued at approximately $142,000. Citigroup Inc. grew its stake in German American Bancorp. by 26.9% in the first quarter. Citigroup Inc. now owns 7,305 shares of the bank’s stock valued at $201,000 after purchasing an additional 1,547 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in German American Bancorp. by 26.5% in the first quarter. BNP Paribas Arbitrage SA now owns 7,656 shares of the bank’s stock valued at $210,000 after purchasing an additional 1,602 shares in the last quarter. Finally, Pettinga Financial Advisors LLC bought a new position in German American Bancorp. in the second quarter valued at approximately $219,000. Institutional investors and hedge funds own 42.38% 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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