German American Bancorp (GABC) Stock Rating Lowered by BidaskClub

German American Bancorp (NASDAQ:GABC) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other research firms have also recently commented on GABC. Zacks Investment Research upgraded German American Bancorp from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, October 4th. ValuEngine cut German American Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $39.75.

Shares of German American Bancorp (NASDAQ GABC) opened at $35.38 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. German American Bancorp has a 52-week low of $28.71 and a 52-week high of $39.02. The company has a market capitalization of $811.26, a PE ratio of 22.54 and a beta of 1.11.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of German American Bancorp by 56.8% during the second quarter. Vanguard Group Inc. now owns 865,786 shares of the bank’s stock worth $29,514,000 after buying an additional 313,778 shares during the last quarter. FMR LLC grew its holdings in shares of German American Bancorp by 50.0% during the second quarter. FMR LLC now owns 837,597 shares of the bank’s stock worth $28,554,000 after buying an additional 279,199 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of German American Bancorp by 53.2% during the second quarter. Dimensional Fund Advisors LP now owns 765,212 shares of the bank’s stock worth $26,086,000 after buying an additional 265,851 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of German American Bancorp by 114.2% during the second quarter. Franklin Resources Inc. now owns 550,650 shares of the bank’s stock worth $18,772,000 after buying an additional 293,550 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of German American Bancorp by 57.5% during the second 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 last quarter. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

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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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