Brown Miller Wealth Management LLC Has $1.29 Million Stake in German American Bancorp, Inc. (NASDAQ:GABC)

Brown Miller Wealth Management LLC boosted its stake in German American Bancorp, Inc. (NASDAQ:GABC) by 96.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,369 shares of the bank’s stock after buying 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 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Royce & Associates LP boosted its stake in German American Bancorp by 138.2% in the fourth quarter. Royce & Associates LP now owns 317,221 shares of the bank’s stock worth $12,759,000 after purchasing an additional 184,065 shares in the last quarter. First Trust Advisors LP boosted its stake in German American Bancorp by 437.1% in the fourth quarter. First Trust Advisors LP now owns 96,438 shares of the bank’s stock worth $3,879,000 after purchasing an additional 78,482 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in German American Bancorp by 40.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 188,323 shares of the bank’s stock worth $7,574,000 after purchasing an additional 54,199 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in German American Bancorp by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 999,381 shares of the bank’s stock worth $40,195,000 after purchasing an additional 44,845 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in German American Bancorp by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 1,748,772 shares of the bank’s stock worth $70,336,000 after purchasing an additional 40,642 shares in the last quarter. Institutional investors and hedge funds own 46.90% of the company’s stock.

German American Bancorp Stock Down 2.7%

GABC stock opened at $37.37 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $1.40 billion, a P/E ratio of 13.25 and a beta of 0.59. The business has a 50-day moving average of $37.63 and a 200-day moving average of $39.22. German American Bancorp, Inc. has a fifty-two week low of $31.96 and a fifty-two week high of $47.08.

German American Bancorp (NASDAQ:GABC) 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 return on equity of 12.04% and a net margin of 23.69%. The firm had revenue of $81.41 million during the quarter, compared to analysts’ expectations of $79.60 million. On average, sell-side analysts anticipate that German American Bancorp, Inc. will post 3.06 earnings per share for the current fiscal year.

German American Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Saturday, May 10th were paid a $0.29 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.16 annualized dividend and a yield of 3.10%. German American Bancorp’s dividend payout ratio is 46.77%.

Insider Buying and Selling at German American Bancorp

In other news, Director Jason M. Kelly sold 2,515 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $39.55, for a total transaction of $99,468.25. Following the transaction, the director now owns 11,673 shares in the company, valued at approximately $461,667.15. This trade represents a 17.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired 113 shares of company stock worth $4,389 over the last 90 days. Company insiders own 6.16% of the company’s stock.

Wall Street Analyst Weigh In

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

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.