Brown Miller Wealth Management LLC Raises Holdings in German American Bancorp, Inc. (NASDAQ:GABC)

Brown Miller Wealth Management LLC raised its holdings in shares of German American Bancorp, Inc. (NASDAQ:GABC - Free Report) by 96.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,369 shares of the bank's stock after acquiring an additional 16,843 shares during the quarter. Brown Miller Wealth Management LLC owned approximately 0.09% of German American Bancorp worth $1,289,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Valeo Financial Advisors LLC lifted its holdings in shares of German American Bancorp by 64.4% in the fourth quarter. Valeo Financial Advisors LLC now owns 33,886 shares of the bank's stock worth $1,363,000 after buying an additional 13,276 shares in the last quarter. Rhumbline Advisers lifted its stake in German American Bancorp by 2.5% in the 4th quarter. Rhumbline Advisers now owns 47,284 shares of the bank's stock worth $1,902,000 after purchasing an additional 1,153 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of German American Bancorp by 8.1% during the 4th quarter. Principal Financial Group Inc. now owns 16,665 shares of the bank's stock valued at $670,000 after purchasing an additional 1,254 shares during the last quarter. Forvis Mazars Wealth Advisors LLC boosted its position in shares of German American Bancorp by 4.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 10,371 shares of the bank's stock valued at $417,000 after acquiring an additional 405 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of German American Bancorp by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 196,347 shares of the bank's stock valued at $7,897,000 after purchasing an additional 20,289 shares in the last quarter. 46.90% of the stock is currently owned by hedge funds and other institutional investors.

German American Bancorp Trading Down 0.2%

GABC stock traded down $0.06 during mid-day trading on Thursday, reaching $36.80. 183,748 shares of the stock traded hands, compared to its average volume of 111,258. German American Bancorp, Inc. has a one year low of $32.61 and a one year high of $47.08. The stock has a market capitalization of $1.38 billion, a PE ratio of 14.84 and a beta of 0.59. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50-day moving average price of $37.71 and a two-hundred day moving average price of $39.13.

German American Bancorp (NASDAQ:GABC - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The bank reported $0.79 EPS for the quarter, beating the consensus estimate of $0.72 by $0.07. German American Bancorp had a net margin of 19.78% and a return on equity of 11.53%. The company had revenue of $81.41 million for the quarter, compared to the consensus estimate of $79.60 million. Equities research analysts expect that German American Bancorp, Inc. will post 3.06 EPS for the current year.

German American Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Saturday, May 10th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.15%. The ex-dividend date was Friday, May 9th. German American Bancorp's dividend payout ratio is presently 46.77%.

Insider Activity at German American Bancorp

In other German American Bancorp news, Director Jason M. Kelly sold 2,515 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total value of $99,468.25. Following the completion of the sale, the director now directly owns 11,673 shares in the company, valued at approximately $461,667.15. This represents a 17.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 341 shares of company stock worth $13,002 in the last 90 days. 6.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target on shares of German American Bancorp from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $45.20.

German American Bancorp Profile

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.