German American Bancorp. (GABC) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of German American Bancorp. (NASDAQ:GABC) from a sell rating to a hold rating in a report released on Friday morning, BidAskClub reports.

Separately, Zacks Investment Research upgraded German American Bancorp. from a sell rating to a hold rating in a research report on Friday, January 25th.

Shares of GABC opened at $30.44 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.82. German American Bancorp. has a 52-week low of $26.20 and a 52-week high of $38.20. The firm has a market capitalization of $753.27 million, a price-to-earnings ratio of 13.97 and a beta of 0.87.

German American Bancorp. (NASDAQ:GABC) last issued its quarterly earnings data on Monday, April 29th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. German American Bancorp. had a return on equity of 12.96% and a net margin of 26.91%. The firm had revenue of $45.25 million during the quarter, compared to the consensus estimate of $43.55 million. On average, equities research analysts forecast that German American Bancorp. will post 2.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 10th will be given a $0.17 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.68 annualized dividend and a yield of 2.23%. German American Bancorp.’s payout ratio is 31.78%.

In other news, Director Thomas W. Seger bought 3,865 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was bought at an average price of $28.90 per share, for a total transaction of $111,698.50. Following the completion of the transaction, the director now directly owns 2,710 shares in the company, valued at approximately $78,319. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas W. Seger bought 1,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were purchased at an average price of $29.50 per share, with a total value of $29,500.00. Following the transaction, the director now owns 2,710 shares of the company’s stock, valued at $79,945. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 5,897 shares of company stock valued at $170,995. Corporate insiders own 7.91% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in GABC. Dimensional Fund Advisors LP raised its position in shares of German American Bancorp. by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 904,049 shares of the bank’s stock worth $31,894,000 after acquiring an additional 40,230 shares during the last quarter. BlackRock Inc. raised its position in shares of German American Bancorp. by 1.6% during the fourth quarter. BlackRock Inc. now owns 1,562,344 shares of the bank’s stock worth $43,386,000 after acquiring an additional 24,721 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of German American Bancorp. during the third quarter worth $827,000. Geode Capital Management LLC raised its position in shares of German American Bancorp. by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 246,268 shares of the bank’s stock worth $6,838,000 after acquiring an additional 15,970 shares during the last quarter. Finally, Vanguard Group Inc raised its position in shares of German American Bancorp. by 1.5% during the third quarter. Vanguard Group Inc now owns 939,977 shares of the bank’s stock worth $33,163,000 after acquiring an additional 13,532 shares during the last quarter. Institutional investors own 35.49% 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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