Oppenheimer Asset Management Inc. Has $679,000 Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Oppenheimer Asset Management Inc. raised its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 16.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,191 shares of the bank’s stock after purchasing an additional 2,520 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Glacier Bancorp were worth $679,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Glacier Bancorp during the fourth quarter valued at $264,000. Janney Montgomery Scott LLC boosted its position in Glacier Bancorp by 4.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,338 shares of the bank’s stock worth $675,000 after acquiring an additional 698 shares during the period. Norges Bank purchased a new position in Glacier Bancorp during the 4th quarter valued at about $32,617,000. Wells Fargo & Company MN increased its holdings in shares of Glacier Bancorp by 3.7% in the 4th 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 during the period. Finally, US Bancorp DE lifted its position in shares of Glacier Bancorp by 23.7% in the fourth quarter. US Bancorp DE now owns 15,792 shares of the bank’s stock worth $653,000 after purchasing an additional 3,022 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GBCI. Truist Financial boosted their price objective on shares of Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Friday. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Finally, Piper Sandler reissued a “neutral” rating and set a $38.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.80.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $46.24 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82. Glacier Bancorp, Inc. has a 12 month low of $26.83 and a 12 month high of $47.71. The company’s fifty day moving average is $44.06 and its 200-day moving average is $39.83. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 26.42 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $306.04 million for 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 period last year, the company earned $0.50 earnings per share. Equities analysts expect that Glacier Bancorp, Inc. will post 1.62 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Tuesday, July 9th were issued a $0.33 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.32 annualized dividend and a yield of 2.85%. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

Insiders Place Their Bets

In other news, CAO Don J. Chery sold 1,000 shares of Glacier Bancorp 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 transaction, the chief accounting officer now owns 52,539 shares of the company’s stock, valued at $2,389,999.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Annie M. Goodwin sold 5,619 shares of the 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 owns 9,402 shares in the company, valued at approximately $418,859.10. The sale was disclosed in a filing with the SEC, which is available 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 sale, the chief accounting officer now directly owns 52,539 shares in the company, valued at approximately $2,389,999.11. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

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.