Massachusetts Financial Services Co. MA Has $42.02 Million Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Massachusetts Financial Services Co. MA grew its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 9.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,125,955 shares of the bank’s stock after acquiring an additional 99,811 shares during the period. Massachusetts Financial Services Co. MA owned about 0.99% of Glacier Bancorp worth $42,021,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Glacier Bancorp during the 1st quarter worth $25,000. International Assets Investment Management LLC bought a new position in shares of Glacier Bancorp during the second quarter worth about $25,000. Headlands Technologies LLC bought a new position in shares of Glacier Bancorp during the first quarter worth about $50,000. GAMMA Investing LLC lifted its stake in shares of Glacier Bancorp by 96.9% in the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after acquiring an additional 772 shares during the period. Finally, TFO Wealth Partners LLC boosted its holdings in Glacier Bancorp by 66,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,972 shares of the bank’s stock valued at $164,000 after acquiring an additional 3,966 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GBCI shares. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Truist Financial boosted their target price on shares of Glacier Bancorp from $38.00 to $46.00 and gave the company a “hold” rating in a report on Monday, July 22nd. Finally, Piper Sandler reiterated a “neutral” rating and set a $38.00 price target on shares of Glacier Bancorp in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Glacier Bancorp currently has a consensus rating of “Hold” and a consensus price target of $43.00.

Glacier Bancorp Trading Up 3.8 %

NASDAQ:GBCI opened at $47.46 on Friday. Glacier Bancorp, Inc. has a 12 month low of $26.83 and a 12 month high of $47.71. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 27.12 and a beta of 0.80. The firm has a fifty day simple moving average of $43.92 and a two-hundred day simple moving average of $39.77.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. The company had revenue of $306.04 million during the quarter, compared to the consensus estimate of $204.43 million. During the same period last year, the business posted $0.50 EPS. Analysts expect that Glacier Bancorp, Inc. will post 1.62 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Tuesday, July 9th. Glacier Bancorp’s payout ratio is 75.43%.

Insider Buying and Selling

In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the company’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 owns 9,402 shares in the company, valued at $418,859.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Don J. Chery sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $45.49, for a total value 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 company insiders.

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.