Zacks Investment Research Downgrades German American Bancorp. (NASDAQ:GABC) to Sell

Zacks Investment Research cut shares of German American Bancorp. (NASDAQ:GABC) from a hold rating to a sell rating in a research report released on Wednesday morning, Zacks.com reports.

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. “

Separately, BidaskClub upgraded Zumiez from a sell rating to a hold rating in a research report on Saturday, June 22nd.



Shares of NASDAQ:GABC opened at $29.85 on Wednesday. The company has a market cap of $739.02 million, a PE ratio of 13.95 and a beta of 0.89. 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 0.66, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s 50-day moving average price is $29.28.

German American Bancorp. (NASDAQ:GABC) last posted its earnings results on Monday, April 29th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company had revenue of $45.25 million during the quarter, compared to analyst estimates of $43.55 million. German American Bancorp. had a return on equity of 12.37% and a net margin of 26.91%. Sell-side analysts expect that German American Bancorp. will post 2.37 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers grew its position in shares of German American Bancorp. by 4.7% during the 1st quarter. Rhumbline Advisers now owns 33,623 shares of the bank’s stock worth $989,000 after buying an additional 1,520 shares during the period. Geode Capital Management LLC grew its position in shares of German American Bancorp. by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 246,268 shares of the bank’s stock worth $6,838,000 after buying an additional 15,970 shares during the period. GSA Capital Partners LLP acquired a new position in shares of German American Bancorp. during the 4th quarter worth about $210,000. BTIM Corp. grew its position in shares of German American Bancorp. by 5.6% during the 1st quarter. BTIM Corp. now owns 186,977 shares of the bank’s stock worth $5,498,000 after buying an additional 9,849 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of German American Bancorp. by 4.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 551,633 shares of the bank’s stock worth $16,218,000 after buying an additional 24,955 shares during the period. Institutional investors own 38.45% of the company’s stock.

About German American Bancorp.

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.

Further Reading: Forex

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