Texas Permanent School Fund Corp Has $3.30 Million Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Texas Permanent School Fund Corp cut its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,543 shares of the bank’s stock after selling 7,665 shares during the quarter. Texas Permanent School Fund Corp owned 0.08% of Glacier Bancorp worth $3,304,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GBCI. Norges Bank bought a new stake in shares of Glacier Bancorp in the 4th quarter valued at about $32,617,000. Capital Research Global Investors increased its stake in Glacier Bancorp by 60.3% during the 1st quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock worth $77,539,000 after purchasing an additional 724,089 shares in the last quarter. Capital International Investors raised its holdings in Glacier Bancorp by 45.1% during the 4th quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after buying an additional 566,513 shares during the period. Clifford Capital Partners LLC raised its holdings in Glacier Bancorp by 2,389.9% during the 1st quarter. Clifford Capital Partners LLC now owns 300,109 shares of the bank’s stock worth $12,088,000 after buying an additional 288,056 shares during the period. Finally, Ceredex Value Advisors LLC raised its holdings in Glacier Bancorp by 145.0% during the 2nd quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock worth $11,513,000 after buying an additional 182,600 shares during the period. 80.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total transaction of $250,326.45. Following the transaction, the director now directly owns 9,402 shares of the company’s stock, valued at approximately $418,859.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Annie M. Goodwin sold 5,619 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total value of $250,326.45. Following the transaction, the director now owns 9,402 shares in the company, valued at approximately $418,859.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $45.49, for a total transaction of $45,490.00. Following the completion of the transaction, the chief accounting officer now owns 52,539 shares in the company, valued at approximately $2,389,999.11. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GBCI shares. Piper Sandler reaffirmed a “neutral” rating and issued a $38.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, August 27th. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Finally, Truist Financial boosted their price objective on shares of Glacier Bancorp from $38.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $43.00.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $44.35 on Friday. The company has a market capitalization of $5.03 billion, a PE ratio of 25.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50-day simple moving average of $43.27 and a 200 day simple moving average of $39.54. Glacier Bancorp, Inc. has a 52-week low of $26.83 and a 52-week high of $47.71.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The company had revenue of $306.04 million during the quarter, compared to analyst estimates of $204.43 million. During the same period last year, the business earned $0.50 earnings per share. On average, research analysts predict that Glacier Bancorp, Inc. will post 1.62 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Tuesday, July 9th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Tuesday, July 9th. Glacier Bancorp’s payout ratio is 75.43%.

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.