King Luther Capital Management Corp Sells 4,327 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

King Luther Capital Management Corp decreased its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,504 shares of the bank’s stock after selling 4,327 shares during the period. King Luther Capital Management Corp owned approximately 0.10% of Glacier Bancorp worth $4,161,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GBCI. Envestnet Portfolio Solutions Inc. purchased a new stake in Glacier Bancorp during the fourth quarter valued at about $264,000. Janney Montgomery Scott LLC raised its position in Glacier Bancorp by 4.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,338 shares of the bank’s stock valued at $675,000 after purchasing an additional 698 shares in the last quarter. Norges Bank purchased a new stake in Glacier Bancorp during the fourth quarter valued at about $32,617,000. Wells Fargo & Company MN raised its position in Glacier Bancorp by 3.7% during the fourth quarter. Wells Fargo & Company MN now owns 180,128 shares of the bank’s stock valued at $7,443,000 after purchasing an additional 6,502 shares in the last quarter. Finally, US Bancorp DE raised its position in Glacier Bancorp by 23.7% during the fourth quarter. US Bancorp DE now owns 15,792 shares of the bank’s stock valued at $653,000 after purchasing an additional 3,022 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Down 2.6 %

GBCI opened at $46.24 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 market cap of $5.24 billion, a P/E ratio of 26.42 and a beta of 0.80. 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 business’s 50-day moving average price is $44.06 and its 200-day moving average price is $39.83.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $204.43 million. During the same quarter in the previous year, the business earned $0.50 EPS. On average, equities analysts expect that Glacier Bancorp, Inc. will post 1.62 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Tuesday, July 9th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.85%. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Truist Financial lifted their price objective on Glacier Bancorp from $46.00 to $50.00 and gave the stock a “hold” rating in a report on Friday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $38.00 price objective on shares of Glacier Bancorp in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and a consensus target price of $43.80.

Insider Activity at Glacier Bancorp

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

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.