German American Bancorp. (NASDAQ:GABC) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of German American Bancorp. (NASDAQ:GABC) from a hold rating to a sell rating in a research report released on Wednesday, 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. “

Separately, BidaskClub raised shares of Zumiez from a sell rating to a hold rating in a research report on Saturday, June 22nd.

NASDAQ GABC opened at $29.85 on Wednesday. The company has a market cap of $739.02 million, a PE ratio of 13.95 and a beta of 0.89. The company has a 50 day moving average price of $29.28. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.90 and a quick ratio of 0.90. German American Bancorp. has a 52 week low of $26.20 and a 52 week high of $38.20.

German American Bancorp. (NASDAQ:GABC) last issued its quarterly earnings results on Monday, April 29th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. The company had revenue of $45.25 million during the quarter, compared to analysts’ expectations of $43.55 million. German American Bancorp. had a net margin of 26.91% and a return on equity of 12.37%. Sell-side analysts forecast that German American Bancorp. will post 2.37 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in GABC. Rhumbline Advisers raised its holdings in German American Bancorp. by 44.8% during the fourth quarter. Rhumbline Advisers now owns 32,103 shares of the bank’s stock worth $892,000 after acquiring an additional 9,936 shares in the last quarter. BlackRock Inc. increased its position in shares of German American Bancorp. by 1.6% during the 4th quarter. BlackRock Inc. now owns 1,562,344 shares of the bank’s stock worth $43,386,000 after purchasing an additional 24,721 shares during the last quarter. Citigroup Inc. increased its position in shares of German American Bancorp. by 16.3% during the 4th quarter. Citigroup Inc. now owns 7,341 shares of the bank’s stock worth $204,000 after purchasing an additional 1,030 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of German American Bancorp. during the 4th quarter worth approximately $210,000. Finally, Northern Trust Corp raised its stake in shares of German American Bancorp. by 3.0% during the 4th quarter. Northern Trust Corp now owns 404,759 shares of the bank’s stock worth $11,240,000 after purchasing an additional 11,620 shares in the last quarter. Institutional investors own 38.45% of the company’s stock.

About German American Bancorp.

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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