German American Bancorp (NASDAQ:GABC) Cut to “Hold (C+)” at Weiss Ratings

Weiss Ratings downgraded shares of German American Bancorp (NASDAQ:GABC) from a buy (b-) rating to a hold (c+) rating in a research report released on Saturday,Weiss Ratings reports.

Several other research analysts have also recently issued reports on the company. Wall Street Zen raised German American Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Piper Sandler increased their price target on German American Bancorp from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.33.

German American Bancorp Price Performance

Shares of GABC opened at $39.17 on Friday. The company has a market cap of $1.47 billion, a P/E ratio of 14.89 and a beta of 0.62. The stock has a fifty day moving average price of $40.05 and a 200 day moving average price of $39.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. German American Bancorp has a 12 month low of $32.75 and a 12 month high of $47.08.

German American Bancorp (NASDAQ:GABC) last issued its quarterly earnings data on Wednesday, September 7th. The bank reported $0.81 EPS for the quarter. The firm had revenue of $64.78 million during the quarter. German American Bancorp had a return on equity of 11.59% and a net margin of 20.84%. On average, research analysts forecast that German American Bancorp will post 3.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Diane B. Medley bought 882 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average price of $37.95 per share, with a total value of $33,471.90. Following the completion of the purchase, the director directly owned 6,252 shares of the company’s stock, valued at $237,263.40. This represents a 16.42% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 1,124 shares of company stock worth $42,903 over the last ninety days. Company insiders own 4.59% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in German American Bancorp during the third quarter valued at about $58,000. KLP Kapitalforvaltning AS boosted its stake in German American Bancorp by 21.2% during the third quarter. KLP Kapitalforvaltning AS now owns 8,000 shares of the bank’s stock valued at $314,000 after buying an additional 1,400 shares in the last quarter. Pettinga Financial Advisors LLC boosted its stake in German American Bancorp by 49.4% during the third quarter. Pettinga Financial Advisors LLC now owns 11,121 shares of the bank’s stock valued at $437,000 after buying an additional 3,677 shares in the last quarter. Indiana Trust & Investment Management Co bought a new position in German American Bancorp during the third quarter valued at about $68,000. Finally, CWM LLC boosted its stake in German American Bancorp by 23.7% during the third quarter. CWM LLC now owns 4,040 shares of the bank’s stock valued at $159,000 after buying an additional 774 shares in the last quarter. Institutional investors own 46.90% of the company’s stock.

German American Bancorp Company Profile

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.