Zacks Investment Research upgraded shares of German American Bancorp. (NASDAQ:GABC) from a sell rating to a hold rating in a research report report published on Wednesday.
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. “
A number of other brokerages have also recently weighed in on GABC. BidaskClub raised shares of German American Bancorp. from a sell rating to a hold rating in a report on Wednesday, February 20th. Hovde Group raised shares of German American Bancorp. from a market perform rating to an outperform rating and set a $31.00 target price on the stock in a report on Wednesday, January 2nd.
Shares of NASDAQ:GABC opened at $31.00 on Wednesday. The firm has a market cap of $773.76 million, a price-to-earnings ratio of 14.49 and a beta of 0.90. German American Bancorp. has a 1-year low of $26.20 and a 1-year high of $38.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.91 and a current ratio of 0.91.
German American Bancorp. (NASDAQ:GABC) last issued its earnings results on Monday, January 28th. The bank reported $0.53 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.53. The company had revenue of $42.72 million for the quarter, compared to analysts’ expectations of $41.90 million. German American Bancorp. had a net margin of 27.24% and a return on equity of 12.78%. As a group, equities research analysts anticipate that German American Bancorp. will post 2.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 20th. Shareholders of record on Sunday, February 10th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.19%. This is a boost from German American Bancorp.’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, February 7th. German American Bancorp.’s dividend payout ratio is 31.78%.
Large investors have recently modified their holdings of the business. Marshall Wace LLP bought a new position in shares of German American Bancorp. during the third quarter worth about $827,000. BlackRock Inc. grew its position in shares of German American Bancorp. by 1.2% during the third quarter. BlackRock Inc. now owns 1,537,623 shares of the bank’s stock worth $54,247,000 after acquiring an additional 18,007 shares during the last quarter. Northern Trust Corp grew its position in shares of German American Bancorp. by 49.8% during the second quarter. Northern Trust Corp now owns 400,346 shares of the bank’s stock worth $14,352,000 after acquiring an additional 133,103 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of German American Bancorp. by 5.9% during the third quarter. Renaissance Technologies LLC now owns 170,500 shares of the bank’s stock worth $6,015,000 after acquiring an additional 9,550 shares during the last quarter. Finally, Vanguard Group Inc grew its position in shares of German American Bancorp. by 1.5% during the third quarter. Vanguard Group Inc now owns 939,977 shares of the bank’s stock worth $33,163,000 after acquiring an additional 13,532 shares during the last quarter. 35.82% of the stock is currently owned by institutional investors.
German American Bancorp. Company Profile
German American Bancorp, Inc operates as the bank holding company for German American Bancorp that provides retail and commercial banking services. The company operates through three segments: Core Banking, Trust and Investment Advisory Services, and Insurance Operations. The Core Banking segment accepts various deposits from the general public; and originates consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, as well as sells residential mortgage loans in the secondary market.
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