German American Bancorp (GABC) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of German American Bancorp (NASDAQ:GABC) from a hold rating to a sell rating in a report issued on Friday, November 17th.

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. “

A number of other research firms have also commented on GABC. BidaskClub lowered shares of German American Bancorp from a hold rating to a sell rating in a research report on Tuesday, August 8th. ValuEngine lowered shares of German American Bancorp from a buy rating to a hold rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. German American Bancorp currently has a consensus rating of Hold and a consensus target price of $39.75.

Shares of German American Bancorp (NASDAQ GABC) opened at $37.12 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.73. German American Bancorp has a 1-year low of $28.71 and a 1-year high of $39.02. The company has a market cap of $851.16, a P/E ratio of 23.64 and a beta of 1.11.

The business also recently declared a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, November 9th. German American Bancorp’s payout ratio is currently 33.12%.

In other news, Director Chris A. Ramsey purchased 3,180 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were purchased at an average price of $32.35 per share, for a total transaction of $102,873.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders purchased 3,261 shares of company stock valued at $105,750. 8.51% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in German American Bancorp by 56.8% in the second quarter. Vanguard Group Inc. now owns 865,786 shares of the bank’s stock worth $29,514,000 after purchasing an additional 313,778 shares during the last quarter. Franklin Resources Inc. raised its position in German American Bancorp by 114.2% in the second quarter. Franklin Resources Inc. now owns 550,650 shares of the bank’s stock worth $18,772,000 after acquiring an additional 293,550 shares during the period. FMR LLC raised its position in German American Bancorp by 50.0% in the second quarter. FMR LLC now owns 837,597 shares of the bank’s stock worth $28,554,000 after acquiring an additional 279,199 shares during the period. Dimensional Fund Advisors LP raised its position in German American Bancorp by 53.2% in the second quarter. Dimensional Fund Advisors LP now owns 765,212 shares of the bank’s stock worth $26,086,000 after acquiring an additional 265,851 shares during the period. Finally, State Street Corp raised its position in shares of German American Bancorp by 57.5% during the 2nd quarter. State Street Corp now owns 398,868 shares of the bank’s stock valued at $13,597,000 after purchasing an additional 145,547 shares during the period. Hedge funds and other institutional investors own 36.25% of the company’s stock.

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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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