German American Bancorp (NASDAQ:GABC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $39.00 price target on the bank’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.05% from the company’s current price.

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. “

Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of German American Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday. Sandler O’Neill set a $38.00 price target on shares of German American Bancorp and gave the stock a “hold” rating in a research note on Wednesday, January 3rd. Finally, Hovde Group reissued a “hold” rating on shares of German American Bancorp in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $39.25.

Shares of German American Bancorp (NASDAQ GABC) traded up $0.27 during trading on Tuesday, reaching $35.12. 20,124 shares of the company’s stock traded hands, compared to its average volume of 34,917. German American Bancorp has a twelve month low of $28.71 and a twelve month high of $39.02. The company has a market capitalization of $799.09, a price-to-earnings ratio of 20.54 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73.

In other German American Bancorp news, Director Chris A. Ramsey purchased 3,055 shares of the firm’s stock in a transaction on Wednesday, December 26th. The shares were purchased at an average cost of $36.00 per share, with a total value of $109,980.00. Following the completion of the purchase, the director now owns 16,969 shares of the company’s stock, valued at approximately $610,884. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Chris A. Ramsey purchased 9,884 shares of the firm’s stock in a transaction on Tuesday, December 26th. The shares were acquired at an average cost of $35.75 per share, for a total transaction of $353,353.00. The disclosure for this purchase can be found here. Insiders have acquired 19,847 shares of company stock worth $709,556 over the last three months. Insiders own 8.51% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP increased its stake in shares of German American Bancorp by 390.2% in the third quarter. GSA Capital Partners LLP now owns 40,933 shares of the bank’s stock worth $1,557,000 after buying an additional 32,583 shares during the period. Valeo Financial Advisors LLC purchased a new position in shares of German American Bancorp in the third quarter worth $449,000. Grandeur Peak Global Advisors LLC purchased a new position in shares of German American Bancorp in the third quarter worth $691,000. Schwab Charles Investment Management Inc. increased its stake in shares of German American Bancorp by 2.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 92,523 shares of the bank’s stock worth $3,519,000 after buying an additional 2,259 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of German American Bancorp by 49.1% in the third quarter. Wells Fargo & Company MN now owns 26,531 shares of the bank’s stock worth $1,009,000 after buying an additional 8,734 shares during the period. 36.39% of the stock is currently owned by institutional investors.

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About German American Bancorp

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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