Zacks Investment Research cut shares of German American Bancorp, Inc. (NASDAQ:GABC) from a buy rating to a hold rating in a report published on Wednesday morning.

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. “

GABC has been the topic of several other reports. BidaskClub upgraded German American Bancorp from a hold rating to a buy rating in a research report on Tuesday, July 25th. ValuEngine cut German American Bancorp from a buy rating to a hold rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $39.75.

Shares of German American Bancorp (NASDAQ:GABC) opened at $36.03 on Wednesday. The firm has a market capitalization of $835.34 million, a price-to-earnings ratio of 23.20 and a beta of 1.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.87 and a current ratio of 0.88.

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The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Friday, November 10th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, November 9th. German American Bancorp’s dividend payout ratio (DPR) is presently 33.12%.

In other news, Director Chris A. Ramsey purchased 1,587 shares of the stock in a transaction dated Friday, August 11th. The shares were bought at an average cost of $31.55 per share, for a total transaction of $50,069.85. Following the transaction, the director now owns 16,140 shares in the company, valued at $509,217. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have bought 5,029 shares of company stock worth $161,641. 8.51% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. First Quadrant L P CA acquired a new position in shares of German American Bancorp during the 2nd quarter valued at $137,000. Smithfield Trust Co. boosted its stake in shares of German American Bancorp by 50.0% during the 2nd quarter. Smithfield Trust Co. now owns 4,035 shares of the bank’s stock worth $138,000 after acquiring an additional 1,345 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of German American Bancorp by 27.8% during the 1st quarter. Bank of America Corp DE now owns 4,400 shares of the bank’s stock worth $208,000 after acquiring an additional 958 shares in the last quarter. First Financial Corp IN boosted its stake in shares of German American Bancorp by 49.9% during the 2nd quarter. First Financial Corp IN now owns 4,497 shares of the bank’s stock worth $153,000 after acquiring an additional 1,498 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of German American Bancorp by 56.3% during the 2nd quarter. Legal & General Group Plc now owns 5,314 shares of the bank’s stock worth $181,000 after acquiring an additional 1,914 shares in the last quarter. Institutional investors own 36.29% of the company’s stock.

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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