Shares of German American Bancorp Inc. (NASDAQ:GABC) have been assigned a consensus broker rating score of 2.80 (Hold) from the five brokers that cover the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. German American Bancorp’s rating score has declined by 16.7% from three months ago as a result of various analysts’ ratings changes.
Brokerages have set a 12 month consensus target price of $36.40 for the company and are expecting that the company will post $0.62 earnings per share for the current quarter, according to Zacks. Zacks has also assigned German American Bancorp an industry rank of 150 out of 265 based on the ratings given to its competitors.
GABC has been the topic of a number of research reports. Zacks Investment Research upgraded German American Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Sandler O’Neill initiated coverage on German American Bancorp in a research report on Thursday, August 25th. They set a “hold” rating on the stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Champlain Investment Partners LLC boosted its position in shares of German American Bancorp by 42.0% in the first quarter. Champlain Investment Partners LLC now owns 287,355 shares of the company’s stock worth $9,253,000 after buying an additional 85,045 shares during the period. FMR LLC boosted its position in shares of German American Bancorp by 10.6% in the second quarter. FMR LLC now owns 627,277 shares of the company’s stock worth $20,054,000 after buying an additional 60,219 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of German American Bancorp during the second quarter worth about $718,000. Royal Bank of Canada boosted its position in shares of German American Bancorp by 111.1% in the first quarter. Royal Bank of Canada now owns 36,010 shares of the company’s stock worth $1,160,000 after buying an additional 18,955 shares during the period. Finally, State Street Corp boosted its position in shares of German American Bancorp by 7.9% in the first quarter. State Street Corp now owns 224,652 shares of the company’s stock worth $7,234,000 after buying an additional 16,444 shares during the period. 28.29% of the stock is currently owned by hedge funds and other institutional investors.
German American Bancorp (NASDAQ:GABC) opened at 38.93 on Tuesday. The company’s 50-day moving average price is $36.82 and its 200-day moving average price is $33.69. German American Bancorp has a 1-year low of $28.98 and a 1-year high of $40.12. The firm has a market capitalization of $593.96 million, a P/E ratio of 17.86 and a beta of 0.90.
German American Bancorp (NASDAQ:GABC) last released its quarterly earnings results on Monday, July 25th. The company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. German American Bancorp had a return on equity of 11.40% and a net margin of 25.22%. Equities research analysts expect that German American Bancorp will post $2.39 earnings per share for the current fiscal year.
About German American Bancorp
German American Bancorp, Inc is a bank holding company. The Company’s operating segments include core banking, trust and investment advisory services, and insurance operations. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Company’s local markets.
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