German American Bancorp (NASDAQ:GABC) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of German American Bancorp (NASDAQ:GABC) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

Separately, Hovde Group increased their price target on German American Bancorp from $33.00 to $34.00 and gave the company a market perform rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $40.67.

German American Bancorp Stock Performance

Shares of GABC opened at $37.54 on Tuesday. The firm has a market capitalization of $1.11 billion, a P/E ratio of 13.17 and a beta of 0.62. German American Bancorp has a 52 week low of $24.85 and a 52 week high of $42.78. The stock has a 50 day moving average price of $35.21 and a two-hundred day moving average price of $33.48. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Saturday, August 10th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, August 9th. German American Bancorp’s payout ratio is 37.89%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of German American Bancorp by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,093,033 shares of the bank’s stock worth $35,426,000 after purchasing an additional 30,050 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in German American Bancorp in the first quarter valued at about $1,097,000. Kennedy Capital Management LLC purchased a new position in German American Bancorp in the first quarter valued at about $6,828,000. PNC Financial Services Group Inc. grew its position in shares of German American Bancorp by 101.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 23,295 shares of the bank’s stock valued at $755,000 after acquiring an additional 11,732 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in shares of German American Bancorp by 22.8% during the 4th quarter. Wedge Capital Management L L P NC now owns 114,091 shares of the bank’s stock worth $3,698,000 after purchasing an additional 21,174 shares during the last quarter. Hedge funds and other institutional investors 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.