Zacks Investment Research upgraded shares of German American Bancorp. (NASDAQ:GABC) from a hold rating to a buy rating in a research report report published on Thursday morning. Zacks Investment Research currently has $39.00 price objective on the bank’s stock.

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. “

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GABC has been the topic of several other reports. BidaskClub downgraded German American Bancorp. from a sell rating to a strong sell rating in a research note on Saturday, January 6th. Hovde Group reiterated a hold rating on shares of German American Bancorp. in a research note on Wednesday, January 3rd. Finally, Sandler O’Neill set a $38.00 target price on German American Bancorp. and gave the company a hold rating in a research note on Wednesday, January 3rd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. German American Bancorp. has a consensus rating of Hold and an average target price of $38.75.

Shares of German American Bancorp. stock traded down $0.08 on Thursday, reaching $33.79. The company’s stock had a trading volume of 29,447 shares, compared to its average volume of 39,618. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.75. German American Bancorp. has a 1-year low of $28.71 and a 1-year high of $39.02. The stock has a market cap of $792.84, a P/E ratio of 20.65 and a beta of 1.07.

German American Bancorp. (NASDAQ:GABC) last issued its earnings results on Monday, January 29th. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). German American Bancorp. had a net margin of 28.47% and a return on equity of 10.80%. The business had revenue of $33.05 million for the quarter, compared to analysts’ expectations of $33.76 million. equities analysts expect that German American Bancorp. will post 2.02 earnings per share for the current fiscal year.

In other news, Director Chris A. Ramsey purchased 3,055 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were purchased at an average cost of $36.00 per share, for a total transaction of $109,980.00. Following the purchase, the director now directly owns 16,969 shares in the company, valued at approximately $610,884. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Chris A. Ramsey purchased 9,884 shares of the company’s stock in a transaction dated Tuesday, December 26th. The stock was purchased at an average price of $35.75 per share, for a total transaction of $353,353.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 13,123 shares of company stock worth $469,767. Company insiders own 8.51% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in GABC. State Street Corp boosted its stake in shares of German American Bancorp. by 57.5% in the 2nd 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. BTIM Corp. boosted its stake in shares of German American Bancorp. by 35.7% in the 4th quarter. BTIM Corp. now owns 175,989 shares of the bank’s stock worth $6,217,000 after buying an additional 46,338 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of German American Bancorp. by 390.2% in the 3rd 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 last quarter. Deutsche Bank AG boosted its stake in shares of German American Bancorp. by 99.7% in the 4th quarter. Deutsche Bank AG now owns 53,070 shares of the bank’s stock worth $1,873,000 after buying an additional 26,490 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of German American Bancorp. by 83.3% in the 4th quarter. First Trust Advisors LP now owns 53,717 shares of the bank’s stock worth $1,898,000 after buying an additional 24,411 shares during the last quarter. Hedge funds and other institutional investors own 36.92% of the company’s stock.

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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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