Price Action to Note: What’s German American Bancorp., Inc. Upside After Reaching 52-Week High?

Price Action to Note: What's German American Bancorp., Inc. Upside After Reaching 52 Week High?

The stock of German American Bancorp., Inc. (NASDAQ:GABC) hit a new 52-week high and has $52.22 target or 30.00% above today’s $40.17 share price. The 7 months bullish chart indicates low risk for the $612.60M company. The 1-year high was reported on Nov, 3 by Barchart.com. If the $52.22 price target is reached, the company will be worth $183.78 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 19,990 shares traded hands. German American Bancorp., Inc. (NASDAQ:GABC) has risen 21.97% since April 1, 2016 and is uptrending. It has outperformed by 20.76% the S&P500.

German American Bancorp., Inc. (NASDAQ:GABC) Ratings Coverage

Out of 3 analysts covering German American Bancorp (NASDAQ:GABC), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. German American Bancorp has been the topic of 5 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The stock of German American Bancorp., Inc. (NASDAQ:GABC) earned “Hold” rating by Sandler O’Neill on Thursday, September 29. The stock has “Hold” rating given by Sandler O’Neill on Tuesday, August 25. Raymond James downgraded the shares of GABC in a report on Thursday, October 6 to “Mkt Perform” rating. The firm earned “Market Perform” rating on Tuesday, March 29 by Hovde Group.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 1.22 in 2016 Q2. Its down 0.65, from 1.87 in 2016Q1. The ratio dropped, as 4 funds sold all German American Bancorp., Inc. shares owned while 23 reduced positions. 6 funds bought stakes while 27 increased positions. They now own 4.28 million shares or 0.82% less from 4.31 million shares in 2016Q1.
Natl Bank Of New York Mellon owns 69,531 shares or 0% of their US portfolio. Bridgeway Capital Mgmt Inc reported 25,650 shares or 0.01% of all its holdings. Geode Mngmt Lc last reported 97,907 shares in the company. Hl Fin Services Ltd Company, a Kentucky-based fund reported 11,572 shares. Vanguard Gru holds 0% of its portfolio in German American Bancorp., Inc. (NASDAQ:GABC) for 478,996 shares. The New York-based Jpmorgan Chase & has invested 0% in German American Bancorp., Inc. (NASDAQ:GABC). Prudential Financial has 11,737 shares for 0% of their US portfolio. The California-based Blackrock Institutional Co Na has invested 0% in German American Bancorp., Inc. (NASDAQ:GABC). Citadel Advsr Limited Liability last reported 7,058 shares in the company. Morgan Dempsey Mgmt Limited holds 48,509 shares or 0.53% of its portfolio. Blackrock Fund Advisors accumulated 366,084 shares or 0% of the stock. Natl Bank Of Montreal Can accumulated 4,459 shares or 0% of the stock. Johnson Investment Counsel, a Ohio-based fund reported 20,054 shares. The United Kingdom-based Blackrock Group Ltd has invested 0% in German American Bancorp., Inc. (NASDAQ:GABC). California State Teachers Retirement Sys accumulated 0% or 29,766 shares.

Insider Transactions: Since May 11, 2016, the stock had 39 insider buys, and 0 insider sales for $299,150 net activity. Another trade for 16 shares valued at $612 was bought by Ramsey Chris A. 220 shares were bought by BAWEL DOUGLAS A, worth $7,687. On Monday, October 17 ERNST CHRISTINA M bought $765 worth of the stock or 20 shares. $1,190 worth of German American Bancorp., Inc. (NASDAQ:GABC) was bought by Root M. Darren. SEGER THOMAS W bought $15,794 worth of stock. $2,105 worth of German American Bancorp., Inc. (NASDAQ:GABC) was bought by KLEM U BUTCH. Snowden Raymond Ward had bought 38 shares worth $1,400.

More recent German American Bancorp., Inc. (NASDAQ:GABC) news were published by: Globenewswire.com which released: “German American Bancorp, Inc. to Present at KBW Community Bank Investor Conference” on July 29, 2016. Also Businesswire.com published the news titled: “German American Bancorp, Inc. and River Valley Bancorp Announce Definitive …” on October 26, 2015. Globenewswire.com‘s news article titled: “German American Bancorp, Inc. (GABC) receives multiple national recognitions …” with publication date: August 12, 2016 was also an interesting one.

GABC Company Profile

German American Bancorp, Inc., incorporated on October 29, 1982, is a bank holding company. The Company’s operating divisions 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. The core banking segment also involves the sale of residential mortgage loans in the secondary market. The trust and investment advisory services segment involves providing trust, investment advisory and brokerage services to customers. The insurance segment offers a range of personal and corporate property and casualty insurance products in its banking subsidiary’s local markets. The Company’s lines of business include retail and commercial banking, comprehensive financial planning, full service brokerage and trust administration, and a range of personal and corporate insurance products.

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