Zacks Investment Research Downgrades German American Bancorp, Inc. (GABC) to Sell

German American Bancorp, Inc. (NASDAQ:GABC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

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. “

Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of German American Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. ValuEngine lowered shares of German American Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. German American Bancorp currently has a consensus rating of “Hold” and an average target price of $39.75.

Shares of German American Bancorp (GABC) opened at $35.10 on Friday. German American Bancorp has a twelve month low of $28.71 and a twelve month high of $39.02. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. The company has a market cap of $804.84, a price-to-earnings ratio of 22.36 and a beta of 1.12.

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In other German American Bancorp news, Director Chris A. Ramsey purchased 3,180 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders acquired a total of 3,221 shares of company stock worth $104,336 over the last quarter. Company insiders own 8.51% of the company’s stock.

Hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its stake in German American Bancorp by 54.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 252,169 shares of the bank’s stock valued at $8,596,000 after buying an additional 88,447 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of German American Bancorp by 112.3% during the 2nd quarter. Victory Capital Management Inc. now owns 48,555 shares of the bank’s stock worth $1,655,000 after purchasing an additional 25,680 shares during the last quarter. Swiss National Bank increased its stake in shares of German American Bancorp by 80.3% during the 2nd quarter. Swiss National Bank now owns 36,250 shares of the bank’s stock worth $1,236,000 after purchasing an additional 16,150 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of German American Bancorp by 51.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 90,264 shares of the bank’s stock worth $3,078,000 after purchasing an additional 30,614 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of German American Bancorp by 52.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 131,749 shares of the bank’s stock worth $4,491,000 after purchasing an additional 45,382 shares during the last quarter. Hedge funds and other institutional investors own 36.14% of the company’s stock.

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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