StockNews.com Upgrades German American Bancorp (NASDAQ:GABC) to “Hold”

German American Bancorp (NASDAQ:GABC) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, Hovde Group upped their target price on German American Bancorp from $33.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, May 31st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, German American Bancorp presently has an average rating of “Hold” and a consensus price target of $36.33.

German American Bancorp Stock Down 1.5 %

Shares of GABC opened at $34.51 on Wednesday. German American Bancorp has a 52 week low of $24.85 and a 52 week high of $35.67. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 12.11 and a beta of 0.62. The stock’s 50-day moving average price is $32.76 and its 200-day moving average price is $32.64.

German American Bancorp (NASDAQ:GABC) last issued its earnings results on Monday, April 29th. The bank reported $0.64 EPS for the quarter, hitting analysts’ consensus estimates of $0.64. German American Bancorp had a return on equity of 13.68% and a net margin of 25.83%. The firm had revenue of $84.08 million for the quarter, compared to the consensus estimate of $61.05 million. On average, sell-side analysts predict that German American Bancorp will post 2.51 EPS for the current year.

Hedge Funds Weigh In On German American Bancorp

A number of large investors have recently bought and sold shares of GABC. Dimensional Fund Advisors LP raised its holdings in shares of German American Bancorp by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,093,033 shares of the bank’s stock valued at $35,426,000 after acquiring an additional 30,050 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of German American Bancorp by 101.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 23,295 shares of the bank’s stock valued at $755,000 after acquiring an additional 11,732 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of German American Bancorp by 22.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 114,091 shares of the bank’s stock valued at $3,698,000 after acquiring an additional 21,174 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of German American Bancorp by 0.4% during the third quarter. Vanguard Group Inc. now owns 1,638,166 shares of the bank’s stock valued at $44,378,000 after acquiring an additional 6,828 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of German American Bancorp by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 227,390 shares of the bank’s stock valued at $7,370,000 after acquiring an additional 5,090 shares during the last quarter. Institutional investors and hedge funds own 46.90% of the company’s stock.

German American Bancorp Company Profile

German American Bancorp, Inc operates as a financial holding company for German American Bank that provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insurance Operations. The Core Banking segment accepts 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.