Algert Global LLC Takes Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Algert Global LLC acquired a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,416 shares of the bank’s stock, valued at approximately $426,000.

Other large investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in Glacier Bancorp by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 138,527 shares of the bank’s stock worth $5,170,000 after acquiring an additional 2,002 shares during the last quarter. Millennium Management LLC increased its position in shares of Glacier Bancorp by 131.9% in the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock worth $17,807,000 after purchasing an additional 271,398 shares during the last quarter. AQR Capital Management LLC raised its stake in Glacier Bancorp by 14.3% in the second quarter. AQR Capital Management LLC now owns 13,007 shares of the bank’s stock valued at $476,000 after purchasing an additional 1,627 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in Glacier Bancorp during the second quarter valued at approximately $548,000. Finally, Thrivent Financial for Lutherans grew its stake in Glacier Bancorp by 2.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,414,154 shares of the bank’s stock worth $52,776,000 after buying an additional 40,120 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $45.43 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82. The stock has a market cap of $5.15 billion, a PE ratio of 25.96 and a beta of 0.80. The company’s fifty day moving average is $44.26 and its 200 day moving average is $40.26. Glacier Bancorp, Inc. has a 52 week low of $28.60 and a 52 week high of $47.71.

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

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

Insider Transactions at Glacier Bancorp

In related 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 completion of the sale, the director now directly owns 9,402 shares in the company, valued at $418,859.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Don J. Chery sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $45.49, for a total value of $45,490.00. Following the sale, the chief accounting officer now directly owns 52,539 shares of the company’s stock, valued at $2,389,999.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Annie M. Goodwin sold 5,619 shares of the company’s 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 transaction, the director now directly owns 9,402 shares of the company’s stock, valued at $418,859.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GBCI. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price objective on shares of Glacier Bancorp in a report on Tuesday, August 27th. Truist Financial raised their price target on Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Finally, Raymond James upped their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Glacier Bancorp has an average rating of “Hold” and an average target price of $44.20.

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.