German American Bancorp (NASDAQ:GABC) Upgraded to “Hold” at StockNews.com

German American Bancorp (NASDAQ:GABC) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Hovde Group boosted their price objective on shares of German American Bancorp from $33.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, May 31st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.33.

German American Bancorp Stock Down 1.5 %

GABC stock opened at $34.51 on Wednesday. The stock has a market capitalization of $1.02 billion, a P/E ratio of 12.11 and a beta of 0.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.79 and a current ratio of 0.79. German American Bancorp has a one year low of $24.85 and a one year high of $35.67. The company has a 50 day moving average price of $32.76 and a two-hundred day moving average price of $32.64.

German American Bancorp (NASDAQ:GABC) last announced its quarterly earnings data on Monday, April 29th. The bank reported $0.64 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.64. German American Bancorp had a net margin of 25.83% and a return on equity of 13.68%. The company had revenue of $84.08 million during the quarter, compared to analysts’ expectations of $61.05 million. As a group, sell-side analysts expect that German American Bancorp will post 2.51 EPS for the current year.

Hedge Funds Weigh In On German American Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of German American Bancorp by 8.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,885 shares of the bank’s stock valued at $418,000 after acquiring an additional 961 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of German American Bancorp by 186.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,058 shares of the bank’s stock valued at $71,000 after acquiring an additional 1,339 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of German American Bancorp by 20.6% during the 1st quarter. Diversified Trust Co now owns 12,002 shares of the bank’s stock valued at $416,000 after acquiring an additional 2,050 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of German American Bancorp by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,019 shares of the bank’s stock valued at $1,040,000 after acquiring an additional 2,326 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in German American Bancorp by 7.9% in the 4th quarter. Victory Capital Management Inc. now owns 31,950 shares of the bank’s stock worth $1,036,000 after buying an additional 2,341 shares in the last quarter. Institutional investors and hedge funds own 46.90% of the company’s stock.

About German American Bancorp

German American Bancorp, Inc operates as a financial holding company for German American Bank that provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insurance Operations. The Core Banking segment accepts 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.