BidaskClub Upgrades German American Bancorp. (GABC) to “Hold”

BidaskClub upgraded shares of German American Bancorp. (NASDAQ:GABC) from a sell rating to a hold rating in a research report sent to investors on Wednesday, March 27th, BidAskClub reports.

A number of other analysts have also issued reports on GABC. Zacks Investment Research upgraded German American Bancorp. from a sell rating to a hold rating in a report on Monday, March 18th. Hovde Group raised German American Bancorp. from a market perform rating to an outperform rating and set a $31.00 target price on the stock in a research report on Wednesday, January 2nd.

Shares of GABC traded down $0.27 during mid-day trading on Wednesday, hitting $29.56. The stock had a trading volume of 46,132 shares, compared to its average volume of 51,334. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.92 and a quick ratio of 0.92. German American Bancorp. has a 52 week low of $26.20 and a 52 week high of $38.20. The firm has a market cap of $738.02 million, a PE ratio of 13.81 and a beta of 0.88.

German American Bancorp. (NASDAQ:GABC) last posted its quarterly earnings results on Monday, January 28th. The bank reported $0.53 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.53. German American Bancorp. had a return on equity of 12.06% and a net margin of 27.24%. The business had revenue of $42.72 million for the quarter, compared to analysts’ expectations of $41.90 million. Sell-side analysts anticipate that German American Bancorp. will post 2.31 earnings per share for the current fiscal year.

In other news, Director Thomas W. Seger acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was acquired at an average cost of $29.50 per share, with a total value of $29,500.00. Following the transaction, the director now owns 2,710 shares in the company, valued at $79,945. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas W. Seger purchased 3,865 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average price of $28.90 per share, for a total transaction of $111,698.50. Following the completion of the purchase, the director now directly owns 2,710 shares in the company, valued at $78,319. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 5,897 shares of company stock valued at $170,995. Insiders own 7.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in shares of German American Bancorp. by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 126,956 shares of the bank’s stock valued at $4,479,000 after acquiring an additional 1,680 shares in the last quarter. BlackRock Inc. raised its position in shares of German American Bancorp. by 1.2% in the third quarter. BlackRock Inc. now owns 1,537,623 shares of the bank’s stock valued at $54,247,000 after buying an additional 18,007 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of German American Bancorp. by 4.7% in the third quarter. Dimensional Fund Advisors LP now owns 904,049 shares of the bank’s stock valued at $31,894,000 after buying an additional 40,230 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of German American Bancorp. by 5.9% in the third quarter. Renaissance Technologies LLC now owns 170,500 shares of the bank’s stock valued at $6,015,000 after buying an additional 9,550 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of German American Bancorp. by 41.5% in the third quarter. The Manufacturers Life Insurance Company now owns 532,871 shares of the bank’s stock valued at $18,800,000 after buying an additional 156,271 shares during the last quarter. Institutional investors own 35.55% 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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