German American Bancorp, Inc. (NASDAQ:GABC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $43.00 target price on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.27% 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 also recently weighed in on the company. ValuEngine downgraded German American Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub downgraded German American Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $39.75.

German American Bancorp (GABC) opened at 38.30 on Wednesday. The firm’s 50-day moving average is $34.15 and its 200-day moving average is $32.98. The stock has a market capitalization of $878.18 million, a price-to-earnings ratio of 22.13 and a beta of 1.17. German American Bancorp has a 52-week low of $24.85 and a 52-week high of $38.44.

German American Bancorp (NASDAQ:GABC) last posted its quarterly earnings data on Monday, July 31st. The bank reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business had revenue of $32.61 million during the quarter, compared to the consensus estimate of $33.20 million. German American Bancorp had a return on equity of 11.60% and a net margin of 28.12%. Analysts predict that German American Bancorp will post $1.72 earnings per share for the current year.

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In related news, Director Chris A. Ramsey purchased 1,587 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $31.55 per share, for a total transaction of $50,069.85. Following the completion of the purchase, the director now directly owns 16,140 shares of the company’s stock, valued at $509,217. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Chris A. Ramsey purchased 3,180 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were bought at an average price of $32.35 per share, with a total value of $102,873.00. The disclosure for this purchase can be found here. Insiders have bought 5,588 shares of company stock valued at $180,944 in the last 90 days. Company insiders own 8.51% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in GABC. First Trust Advisors LP raised its stake in shares of German American Bancorp by 9.6% during the first quarter. First Trust Advisors LP now owns 28,245 shares of the bank’s stock worth $1,337,000 after purchasing an additional 2,477 shares during the last quarter. US Bancorp DE raised its stake in shares of German American Bancorp by 0.4% during the first quarter. US Bancorp DE now owns 9,055 shares of the bank’s stock worth $429,000 after purchasing an additional 38 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of German American Bancorp by 5.9% during the first quarter. Bank of New York Mellon Corp now owns 86,367 shares of the bank’s stock worth $4,088,000 after purchasing an additional 4,849 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of German American Bancorp during the first quarter worth approximately $450,000. Finally, SG Americas Securities LLC purchased a new stake in shares of German American Bancorp during the first quarter worth approximately $238,000. Institutional investors and hedge funds own 35.75% 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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