Oak Ridge Investments LLC Takes Position in Glacier Bancorp, Inc. $GBCI

Oak Ridge Investments LLC acquired a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 57,455 shares of the bank’s stock, valued at approximately $2,796,000.

Several other institutional investors have also added to or reduced their stakes in GBCI. Ameritas Advisory Services LLC purchased a new position in shares of Glacier Bancorp in the second quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its holdings in Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the bank’s stock worth $31,000 after buying an additional 490 shares during the period. Mather Group LLC. bought a new stake in Glacier Bancorp during the 3rd quarter valued at $35,000. UMB Bank n.a. lifted its position in shares of Glacier Bancorp by 56.1% during the second quarter. UMB Bank n.a. now owns 1,308 shares of the bank’s stock worth $56,000 after acquiring an additional 470 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Glacier Bancorp by 20.4% during the third quarter. Farther Finance Advisors LLC now owns 1,609 shares of the bank’s stock worth $78,000 after acquiring an additional 273 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Performance

Glacier Bancorp stock opened at $47.87 on Friday. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $52.63. The firm’s fifty day moving average price is $44.11 and its 200-day moving average price is $45.49. The stock has a market cap of $6.22 billion, a P/E ratio of 28.66 and a beta of 0.75. 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 (NASDAQ:GBCI) last released its earnings results on Thursday, October 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the firm posted $0.46 earnings per share. On average, equities research analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, December 9th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. Glacier Bancorp’s dividend payout ratio (DPR) is 64.71%.

Insider Buying and Selling at Glacier Bancorp

In related news, CEO Randall M. Chesler acquired 2,437 shares of Glacier Bancorp stock in a transaction dated Wednesday, November 5th. The shares were purchased at an average cost of $40.91 per share, with a total value of $99,697.67. Following the completion of the purchase, the chief executive officer owned 7,422 shares of the company’s stock, valued at $303,634.02. This represents a 48.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lee Kenneth Groom bought 2,425 shares of the stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of $41.26 per share, with a total value of $100,055.50. Following the purchase, the insider owned 14,343 shares in the company, valued at $591,792.18. The trade was a 20.35% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 8,852 shares of company stock worth $364,484 over the last 90 days. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GBCI. DA Davidson reiterated a “buy” rating and issued a $58.00 price target on shares of Glacier Bancorp in a research report on Wednesday, November 12th. Raymond James Financial decreased their price target 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 raised shares of Glacier Bancorp from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $50.00 to $58.00 in a research note on Thursday, December 18th. Finally, Keefe, Bruyette & Woods upgraded shares of Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 target price on the stock in a research note on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $53.60.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.