JPM Stock: JPMorgan Chase & Co. Sells 14,218 Shares of German American Bancorp, Inc

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JPMorgan Chase & Co. cut its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC) by 32.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,139 shares of the bank’s stock after selling 14,218 shares during the quarter. JPMorgan Chase & Co. owned about 0.13% of German American Bancorp worth $1,116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Great West Life Assurance Co. Can acquired a new position in German American Bancorp during the third quarter worth about $116,000. SG Americas Securities LLC acquired a new position in German American Bancorp during the third quarter worth about $114,000. Jennison Associates LLC acquired a new position in German American Bancorp during the third quarter worth about $354,000. Susquehanna International Group LLP acquired a new position in German American Bancorp during the second quarter worth about $221,000. Finally, California State Teachers Retirement System boosted its position in German American Bancorp by 34.4% during the second quarter. California State Teachers Retirement System now owns 37,599 shares of the bank’s stock worth $1,282,000 after acquiring an additional 9,633 shares during the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Hovde Group restated a “hold” rating on shares of German American Bancorp in a research report on Wednesday, January 3rd. BidaskClub lowered shares of German American Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 6th. Sandler O’Neill set a $38.00 price target on shares of German American Bancorp and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research raised shares of German American Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, January 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. German American Bancorp has a consensus rating of “Hold” and a consensus target price of $39.25.

In other news, Director Chris A. Ramsey bought 3,977 shares of German American Bancorp stock in a transaction on Wednesday, December 19th. The shares were bought at an average cost of $36.00 per share, with a total value of $143,172.00. Following the completion of the purchase, the director now directly owns 16,969 shares of the company’s stock, valued at $610,884. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Chris A. Ramsey bought 2,852 shares of German American Bancorp stock in a transaction on Tuesday, December 11th. The shares were purchased at an average cost of $35.13 per share, for a total transaction of $100,190.76. Following the completion of the purchase, the director now directly owns 16,969 shares of the company’s stock, valued at $596,120.97. The disclosure for this purchase can be found here. Insiders have acquired 19,847 shares of company stock worth $709,556 over the last ninety days. 8.51% of the stock is owned by insiders.

German American Bancorp, Inc. (GABC) opened at $36.51 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 0.88. German American Bancorp, Inc. has a 52 week low of $28.71 and a 52 week high of $39.02. The company has a market cap of $837.15, a PE ratio of 21.35 and a beta of 1.12.

About German American Bancorp

German American Bancorp, Inc is a bank holding company. As of December 31, 2016, the Company, through its banking subsidiary German American Bancorp, operated 51 banking offices in 19 contiguous southern Indiana counties and one northern Kentucky county. Its segments are core banking, trust and investment advisory services, insurance, and other.

Institutional Ownership by Quarter for German American Bancorp (NASDAQ:GABC)

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