German American Bancorp (NASDAQ: GABC) was downgraded by Zacks Investment Research from a “buy” rating to a “keep” rating in a research note released Wednesday, Zacks.com reports.
According to Zacks, “GERMAN AMERICAN BANCORP is a multi-bank holding company. Through its subsidiaries, it operates affiliated community banks with full-service independent banking offices and insurance agencies in the eight contiguous Southwest Indiana counties of Daviess, Dubois, Gibson, Knox, Martin, Perry, Pike and S pencer. Their lines of business include retail and commercial banking, mortgage banking, trust and brokerage services, title insurance, and a full line of property and personal risk and personal risk insurance products. business. “
GABC stock traded down $ 0.68 in Wednesday’s session, reaching $ 43.10. The stock had a trade volume of 24,315 shares, compared to its average volume of 46,958. The company has a leverage ratio of 0.29, a current ratio of 0.75, and a quick ratio of 0 , 75. German American Bancorp has a one-year low at $ 31.06 and a one-year high at $ 51.11. The company has a fifty-day moving average of $ 39.21. The company has a market cap of $ 1.14 billion, a P / E ratio of 13.30 and a beta of 0.74.
German American Bancorp (NASDAQ: GABC) last released its quarterly earnings data on Sunday, October 24. The bank reported earnings per share of $ 0.81 for the quarter, beating analyst consensus estimates of $ 0.71 by $ 0.10. German American Bancorp recorded a return on equity of 13.50% and a net margin of 37.01%. The company posted revenue of $ 56.84 million in the quarter, compared to analysts’ estimates of $ 53.50 million. On average, research analysts expect German American Bancorp to post an EPS of 3.28 for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold GABC shares. German American Bancorp Inc. increased its position in German American Bancorp shares by 82.0% in the second quarter. German American Bancorp Inc. now owns 207,775 shares of the bank valued at $ 7,729,000 after purchasing an additional 93,590 shares in the last quarter. Marshall Wace LLP purchased a new stake in German American Bancorp in the second quarter valued at approximately $ 832,000. Charles Schwab Investment Management Inc. increased its stake in German American Bancorp by 1.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 169,856 shares of the bank valued at $ 6,319,000 after purchasing an additional 2,439 shares in the last quarter. Legal & General Group Plc increased its stake in German American Bancorp by 5.3% during the 2nd quarter. Legal & General Group Plc now owns 5,493 shares of the bank valued at $ 204,000 after purchasing an additional 276 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its position in German American Bancorp shares by 4.3% in the second quarter. Champlain Investment Partners LLC now owns 1,301,160 shares of the bank valued at $ 48,403,000 after acquiring an additional 53,150 shares during the last quarter. Hedge funds and other institutional investors hold 43.12% of the company’s shares.
About German American Bancorp
German American Bancorp, Inc is a holding company, which owns trust, brokerage and financial planning through German American Financial Advisors & Trust Co and German American Insurance, Inc. It operates in the segments of following activities: Core Banking, Wealth Management Services, insurance operations and others.
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