Bayforest Capital Ltd Raises Holdings in Glacier Bancorp, Inc. $GBCI

Bayforest Capital Ltd grew its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2,446.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,508 shares of the bank’s stock after purchasing an additional 4,331 shares during the period. Bayforest Capital Ltd’s holdings in Glacier Bancorp were worth $194,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GBCI. Farther Finance Advisors LLC grew its position in shares of Glacier Bancorp by 252.1% during the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank’s stock valued at $62,000 after purchasing an additional 1,001 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Glacier Bancorp by 16.5% during the first quarter. SG Americas Securities LLC now owns 18,488 shares of the bank’s stock valued at $818,000 after purchasing an additional 2,615 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Glacier Bancorp by 8.4% during the first quarter. QRG Capital Management Inc. now owns 7,777 shares of the bank’s stock valued at $344,000 after purchasing an additional 600 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Glacier Bancorp by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 13,286 shares of the bank’s stock valued at $587,000 after purchasing an additional 360 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Glacier Bancorp by 8.9% during the first quarter. Blue Trust Inc. now owns 4,698 shares of the bank’s stock valued at $208,000 after purchasing an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Insider Activity

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $44.24, for a total transaction of $35,392.00. Following the completion of the transaction, the insider owned 11,918 shares in the company, valued at $527,252.32. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GBCI. Piper Sandler raised their price objective on Glacier Bancorp from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods lifted their price target on Glacier Bancorp from $52.00 to $55.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Raymond James Financial set a $55.00 price target on Glacier Bancorp and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Finally, DA Davidson reiterated a “buy” rating and issued a $50.00 price target on shares of Glacier Bancorp in a research report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.67.

Glacier Bancorp Stock Down 6.2%

Shares of NASDAQ:GBCI opened at $45.03 on Friday. Glacier Bancorp, Inc. has a 1 year low of $36.76 and a 1 year high of $60.67. The business has a 50 day simple moving average of $47.94 and a two-hundred day simple moving average of $44.40. The firm has a market capitalization of $5.34 billion, a PE ratio of 26.96 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, October 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.05). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the previous year, the business posted $0.46 EPS. On average, equities analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Tuesday, October 7th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, October 7th. Glacier Bancorp’s payout ratio is 68.75%.

Glacier Bancorp Profile

Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. The company offers retail banking, business banking, and mortgage origination and loan servicing services.