German American Bancorp, Inc. (GABC) Given Consensus Rating of “Hold” by Brokerages
Shares of German American Bancorp, Inc. (NASDAQ:GABC) have been given an average rating of “Hold” by the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $39.75.
Several research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. BidaskClub lowered shares of German American Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, ValuEngine lowered shares of German American Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.
In other news, Director Chris A. Ramsey acquired 1,587 shares of German American Bancorp stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $31.55 per share, with a total value of $50,069.85. Following the purchase, the director now directly owns 16,140 shares of the company’s stock, valued at $509,217. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Chris A. Ramsey acquired 3,180 shares of German American Bancorp stock in a transaction that occurred on Tuesday, September 5th. The shares were purchased at an average cost of $32.35 per share, for a total transaction of $102,873.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,588 shares of company stock worth $180,944 in the last three months. 8.51% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new position in German American Bancorp during the 2nd quarter worth approximately $221,000. California State Teachers Retirement System raised its holdings in German American Bancorp by 34.4% during the 2nd quarter. California State Teachers Retirement System now owns 37,599 shares of the bank’s stock worth $1,282,000 after buying an additional 9,633 shares during the period. The Manufacturers Life Insurance Company raised its holdings in German American Bancorp by 54.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,169 shares of the bank’s stock worth $8,596,000 after buying an additional 88,447 shares during the period. State Street Corp raised its holdings in German American Bancorp by 57.5% during the 2nd quarter. State Street Corp now owns 398,868 shares of the bank’s stock worth $13,597,000 after buying an additional 145,547 shares during the period. Finally, Royal Bank of Canada raised its holdings in German American Bancorp by 50.9% during the 2nd quarter. Royal Bank of Canada now owns 74,755 shares of the bank’s stock worth $2,548,000 after buying an additional 25,229 shares during the period. 35.75% of the stock is currently owned by institutional investors and hedge funds.
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Shares of German American Bancorp (NASDAQ:GABC) traded down 0.34% during mid-day trading on Friday, hitting $38.17. 47,655 shares of the stock were exchanged. German American Bancorp has a 1-year low of $24.85 and a 1-year high of $38.44. The firm has a market cap of $875.20 million, a price-to-earnings ratio of 22.05 and a beta of 1.17. The company’s 50-day moving average is $34.34 and its 200-day moving average is $33.03.
German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Monday, July 31st. The bank reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $32.61 million for the quarter, compared to analyst estimates of $33.20 million. German American Bancorp had a net margin of 28.12% and a return on equity of 11.60%. Equities research analysts anticipate that German American Bancorp will post $1.72 earnings per share for the current fiscal year.
German American Bancorp Company Profile
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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