Zacks Investment Research lowered shares of German American Bancorp. (NASDAQ:GABC) from a buy rating to a hold rating in a report published 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. “
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of German American Bancorp. from a sell rating to a strong sell rating in a report on Wednesday, January 31st. Sandler O’Neill set a $37.00 price target on shares of German American Bancorp. and gave the company a hold rating in a report on Tuesday, January 30th. Finally, Hovde Group reissued a hold rating on shares of German American Bancorp. in a report on Wednesday, January 3rd. Seven investment analysts have rated the stock with a hold rating, The company has an average rating of Hold and an average target price of $38.75.
Shares of German American Bancorp. (NASDAQ:GABC) opened at $34.96 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.75. The firm has a market cap of $810.50, a P/E ratio of 20.93 and a beta of 1.07. German American Bancorp. has a fifty-two week low of $28.71 and a fifty-two week high of $39.02.
German American Bancorp. (NASDAQ:GABC) last issued its quarterly earnings results on Monday, January 29th. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $33.05 million during the quarter, compared to analyst estimates of $33.76 million. German American Bancorp. had a net margin of 28.47% and a return on equity of 10.80%. research analysts expect that German American Bancorp. will post 2.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Saturday, February 10th were paid a $0.15 dividend. The ex-dividend date was Thursday, February 8th. This is a boost from German American Bancorp.’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 1.72%. German American Bancorp.’s dividend payout ratio (DPR) is presently 35.93%.
In other German American Bancorp. news, Director Chris A. Ramsey acquired 3,977 shares of German American Bancorp. stock in a transaction on Tuesday, December 19th. The shares were purchased at an average cost of $36.00 per share, with a total value of $143,172.00. Following the completion of the purchase, the director now owns 16,969 shares in the company, valued at $610,884. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Chris A. Ramsey acquired 3,055 shares of German American Bancorp. stock in a transaction on Tuesday, December 26th. The stock was acquired at an average cost of $36.00 per share, for a total transaction of $109,980.00. Following the completion of the purchase, the director now owns 16,969 shares of the company’s stock, valued at approximately $610,884. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 17,020 shares of company stock worth $610,180. Insiders own 8.51% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC bought a new position in German American Bancorp. in the fourth quarter valued at approximately $358,000. Deutsche Bank AG boosted its stake in German American Bancorp. by 99.7% in the fourth quarter. Deutsche Bank AG now owns 53,070 shares of the bank’s stock valued at $1,873,000 after acquiring an additional 26,490 shares during the last quarter. Advisor Group Inc. bought a new position in German American Bancorp. in the fourth quarter valued at approximately $139,000. Geode Capital Management LLC boosted its stake in German American Bancorp. by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 190,992 shares of the bank’s stock valued at $6,747,000 after acquiring an additional 3,670 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in German American Bancorp. by 0.5% in the fourth quarter. Champlain Investment Partners LLC now owns 904,960 shares of the bank’s stock valued at $31,972,000 after acquiring an additional 4,835 shares during the last quarter. 36.80% of the stock is currently owned by hedge funds and other institutional investors.
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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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