Glacier Bancorp (NASDAQ:GBCI) Insider Acquires $100,055.50 in Stock

Glacier Bancorp, Inc. (NASDAQ:GBCI) insider Lee Kenneth Groom bought 2,425 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were acquired at an average cost of $41.26 per share, for a total transaction of $100,055.50. Following the transaction, the insider directly owned 14,343 shares in the company, valued at approximately $591,792.18. This trade represents a 20.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Glacier Bancorp Price Performance

Shares of GBCI opened at $42.58 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50 day moving average price of $46.52 and a 200-day moving average price of $44.73. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $60.67. The stock has a market capitalization of $5.53 billion, a PE ratio of 25.50 and a beta of 0.83.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data 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 quarter in the previous year, the business earned $0.46 EPS. Equities analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Tuesday, October 7th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, October 7th. Glacier Bancorp’s dividend payout ratio is 64.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GBCI shares. Raymond James Financial dropped their price objective on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Piper Sandler restated a “neutral” rating and issued a $50.00 price target on shares of Glacier Bancorp in a report on Monday, October 20th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Glacier Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Glacier Bancorp presently has an average rating of “Moderate Buy” and an average price target of $50.40.

Institutional Investors Weigh In On Glacier Bancorp

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Glacier Bancorp by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,488,822 shares of the bank’s stock valued at $607,831,000 after purchasing an additional 419,849 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Glacier Bancorp by 2.0% in the second quarter. Geode Capital Management LLC now owns 2,993,108 shares of the bank’s stock worth $128,957,000 after buying an additional 59,421 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Glacier Bancorp by 9.1% in the first quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank’s stock worth $60,198,000 after buying an additional 113,544 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Glacier Bancorp by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock worth $59,799,000 after buying an additional 73,756 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Glacier Bancorp by 41.5% during the third quarter. Deprince Race & Zollo Inc. now owns 1,272,041 shares of the bank’s stock worth $61,910,000 after buying an additional 373,196 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

About Glacier Bancorp

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.