Why GABC have been downgraded ?

German American Bancorp., Inc. (NASDAQ:GABC) received a stock rating downgrade from Hovde Group on Mar-29-16. In a note to investors, the firm issued a Market Perform rating and the target price on the stock $35. The analysts previously had an Outperform rating on the stock.

Analysts have a consensus target price of $33.83 in the 12-month period. The price objective is 5.55% higher than the recent closing price of $32.05. The 52-week price range is $27.70-$34.85 and the company has a market capitalization of $487.80 million. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 3 has assigned a hold rating, 1 says it’s a buy, and 2 have assigned a strong buy rating to the company.

German American Bancorp, Inc. (GABC) on February 29, 2016 announced that it will complete its acquisition of River Valley Bancorp, the parent company of River Valley Financial Bank, of Madison, Indiana.

Immediately following the merger of River Valley Bancorp into German American Bancorp, Inc., River Valley Financial Bank will merge with and into German American’s banking subsidiary.

Each River Valley common shareholder of record on March 1 will be entitled to receive 0.77 shares of German American common stock and a cash payment of $9.90 for each of their former shares of River Valley common stock, subject to his or her surrender of the old River Valley shares to the exchange agent designated by German American. Instructions and forms to accomplish that surrender and exchange process are being mailed by the exchange agent to each of River Valley’s shareholders of record as of March 1, 2016.

Mark A. Schroeder, Chairman and CEO of German American, stated, “We are pleased the merger received the overwhelming approval of the River Valley shareholders and are delighted to welcome River Valley’s customers, employees and shareholders to German American. This combination of our two companies positions German American to enhance our previously stated objective of expanding our Southern Indiana footprint into the vibrant Southeast Indiana market area. River Valley has built a solid community banking franchise in three distinct markets in which German American can provide our extensive offerings of banking, insurance, and investment products and services to River Valley’s current and prospective clients.

See also: A Peek Inside Donald Trump’s Financials Shows How He Takes Advantage Of A Little Known Income Stream That’s Available To Everyone!