German American Bancorp. (GABC) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of German American Bancorp. (NASDAQ:GABC) from a sell rating to a hold rating in a research note released on Monday morning.

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 recently issued research reports about the stock. BidaskClub raised shares of German American Bancorp. from a sell rating to a hold rating in a research note on Wednesday, February 20th. Hovde Group raised shares of German American Bancorp. from a market perform rating to an outperform rating and set a $31.00 price target for the company in a research note on Wednesday, January 2nd.

German American Bancorp. stock opened at $30.60 on Monday. German American Bancorp. has a 1-year low of $26.20 and a 1-year high of $38.20. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $756.51 million, a PE ratio of 15.07 and a beta of 0.89.

German American Bancorp. (NASDAQ:GABC) last posted its quarterly earnings results on Monday, January 28th. The bank reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. German American Bancorp. had a net margin of 27.24% and a return on equity of 12.06%. The business had revenue of $42.72 million during the quarter, compared to analysts’ expectations of $41.90 million. As a group, equities analysts forecast that German American Bancorp. will post 2.32 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 20th. Stockholders of record on Sunday, February 10th were paid a $0.17 dividend. This is a boost from German American Bancorp.’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, February 7th. This represents a $0.68 annualized dividend and a dividend yield of 2.22%. German American Bancorp.’s dividend payout ratio is 31.78%.

In related news, Director Thomas W. Seger acquired 1,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was 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 approximately $79,945. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders bought 1,091 shares of company stock valued at $32,301. Corporate insiders own 9.23% of the company’s stock.

Several large investors have recently bought and sold shares of GABC. Bank of New York Mellon Corp boosted its position in shares of German American Bancorp. by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 126,956 shares of the bank’s stock worth $4,479,000 after purchasing an additional 1,680 shares during the period. BlackRock Inc. boosted its position in shares of German American Bancorp. by 1.2% during the 3rd quarter. BlackRock Inc. now owns 1,537,623 shares of the bank’s stock worth $54,247,000 after purchasing an additional 18,007 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of German American Bancorp. by 4.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 904,049 shares of the bank’s stock worth $31,894,000 after purchasing an additional 40,230 shares during the period. Renaissance Technologies LLC boosted its position in shares of German American Bancorp. by 5.9% during the 3rd quarter. Renaissance Technologies LLC now owns 170,500 shares of the bank’s stock worth $6,015,000 after purchasing an additional 9,550 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of German American Bancorp. by 41.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 532,871 shares of the bank’s stock worth $18,800,000 after purchasing an additional 156,271 shares during the period. 35.49% of the stock is owned by hedge funds and other institutional investors.

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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