German American Bancorp Inc. (GABC) Cut to “Market Perform” at Raymond James Financial Inc.
GABC has been the topic of a number of other research reports. Zacks Investment Research raised German American Bancorp from a sell rating to a hold rating in a report on Wednesday, June 15th. Sandler O’Neill started coverage on German American Bancorp in a report on Thursday, August 25th. They set a hold rating on the stock.
German American Bancorp (NASDAQ:GABC) opened at 38.13 on Thursday. German American Bancorp has a 12-month low of $29.24 and a 12-month high of $40.12. The stock has a market cap of $581.75 million, a price-to-earnings ratio of 17.49 and a beta of 1.00. The stock’s 50 day moving average price is $37.45 and its 200 day moving average price is $34.00.
German American Bancorp (NASDAQ:GABC) last released its quarterly earnings results on Monday, July 25th. The company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.08. German American Bancorp had a return on equity of 11.40% and a net margin of 25.22%. Analysts forecast that German American Bancorp will post $2.39 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in GABC. Bank of New York Mellon Corp raised its stake in German American Bancorp by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 69,531 shares of the company’s stock valued at $2,223,000 after buying an additional 1,453 shares during the period. Geode Capital Management LLC raised its stake in German American Bancorp by 12.4% in the first quarter. Geode Capital Management LLC now owns 94,090 shares of the company’s stock valued at $3,029,000 after buying an additional 10,358 shares during the period. Champlain Investment Partners LLC raised its stake in German American Bancorp by 42.0% in the first quarter. Champlain Investment Partners LLC now owns 287,355 shares of the company’s stock valued at $9,253,000 after buying an additional 85,045 shares during the period. First Trust Advisors LP raised its stake in German American Bancorp by 9.2% in the second quarter. First Trust Advisors LP now owns 22,385 shares of the company’s stock valued at $716,000 after buying an additional 1,892 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in German American Bancorp during the second quarter valued at $718,000. 28.29% of the stock is currently owned by hedge funds and other institutional investors.
About German American Bancorp
German American Bancorp, Inc is a bank holding company. The Company’s operating segments include core banking, trust and investment advisory services, and insurance operations. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Company’s local markets.
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