Kristen Lee Heck Buys 611 Shares of Glacier Bancorp (NASDAQ:GBCI) Stock

Glacier Bancorp, Inc. (NASDAQ:GBCI) Director Kristen Lee Heck acquired 611 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $40.79 per share, with a total value of $24,922.69. Following the acquisition, the director owned 10,536 shares of the company’s stock, valued at approximately $429,763.44. This represents a 6.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Glacier Bancorp Stock Down 0.1%

Shares of NASDAQ GBCI traded down $0.04 during midday trading on Tuesday, hitting $40.62. 132,574 shares of the stock traded hands, compared to its average volume of 763,750. The company has a market cap of $4.82 billion, a PE ratio of 24.33 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp, Inc. has a one year low of $36.76 and a one year high of $60.67. The business has a 50 day moving average price of $47.09 and a two-hundred day moving average price of $44.72.

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 firm 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 business also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Tuesday, October 7th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 3.2%. Glacier Bancorp’s payout ratio is presently 64.71%.

Analyst Upgrades and Downgrades

GBCI has been the subject of several research analyst reports. Keefe, Bruyette & Woods decreased their target price on Glacier Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a research report on Monday, October 20th. Piper Sandler restated a “neutral” rating and set a $50.00 price target on shares of Glacier Bancorp in a research report on Monday, October 20th. Finally, Raymond James Financial lowered their price objective on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.40.

Institutional Trading of Glacier Bancorp

A number of institutional investors have recently added to or reduced their stakes in GBCI. Teacher Retirement System of Texas purchased a new stake in Glacier Bancorp during the 1st quarter worth about $733,000. Principal Financial Group Inc. lifted its holdings in Glacier Bancorp by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 262,897 shares of the bank’s stock worth $11,625,000 after purchasing an additional 2,477 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in Glacier Bancorp by 14.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 6,233 shares of the bank’s stock worth $276,000 after purchasing an additional 797 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Glacier Bancorp by 3.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 189,263 shares of the bank’s stock worth $8,369,000 after purchasing an additional 6,806 shares in the last quarter. Finally, First Interstate Bank purchased a new stake in Glacier Bancorp during the 1st quarter worth about $593,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Company 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.