Zacks Investment Research Downgrades German American Bancorp. (NASDAQ:GABC) to Sell

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Zacks Investment Research lowered shares of German American Bancorp. (NASDAQ:GABC) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

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. “

Separately, BidaskClub upgraded Zumiez from a sell rating to a hold rating in a research note on Saturday, June 22nd.

Shares of NASDAQ:GABC opened at $29.85 on Wednesday. The stock’s 50 day simple moving average is $29.28. German American Bancorp. has a 12-month low of $26.20 and a 12-month high of $38.20. The firm has a market cap of $739.02 million, a price-to-earnings ratio of 13.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.90 and a current ratio of 0.90.

German American Bancorp. (NASDAQ:GABC) last released its quarterly earnings results on Monday, April 29th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The company had revenue of $45.25 million during the quarter, compared to the consensus estimate of $43.55 million. German American Bancorp. had a net margin of 26.91% and a return on equity of 12.37%. Analysts forecast that German American Bancorp. will post 2.37 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of GABC. Rhumbline Advisers lifted its position in German American Bancorp. by 44.8% during the fourth quarter. Rhumbline Advisers now owns 32,103 shares of the bank’s stock worth $892,000 after purchasing an additional 9,936 shares during the period. BlackRock Inc. grew its stake in 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 buying an additional 24,721 shares in the last quarter. Citigroup Inc. grew its stake in German American Bancorp. by 16.3% during the fourth quarter. Citigroup Inc. now owns 7,341 shares of the bank’s stock worth $204,000 after buying an additional 1,030 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in German American Bancorp. during the fourth quarter worth about $210,000. Finally, Northern Trust Corp increased its holdings in German American Bancorp. by 3.0% in the 4th quarter. Northern Trust Corp now owns 404,759 shares of the bank’s stock valued at $11,240,000 after buying an additional 11,620 shares during the period. 38.45% of the stock is owned by institutional investors and hedge funds.

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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