State of New Jersey Common Pension Fund D Sells 24,960 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

State of New Jersey Common Pension Fund D reduced its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 32.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,135 shares of the bank’s stock after selling 24,960 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Glacier Bancorp were worth $1,946,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. &PARTNERS acquired a new position in Glacier Bancorp during the 1st quarter worth $991,000. Capital International Investors lifted its stake in shares of Glacier Bancorp by 45.1% during the fourth quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock valued at $75,326,000 after acquiring an additional 566,513 shares during the period. Sei Investments Co. boosted its holdings in Glacier Bancorp by 46.2% in the first quarter. Sei Investments Co. now owns 148,305 shares of the bank’s stock valued at $5,974,000 after acquiring an additional 46,890 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Glacier Bancorp by 21.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock valued at $3,160,000 after acquiring an additional 13,655 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Glacier Bancorp in the first quarter worth about $477,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GBCI. Truist Financial upped their target price 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 upgraded shares of Glacier Bancorp to a “sell” rating in a report on Thursday, June 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.00 target price on shares of Glacier Bancorp in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.80.

Insiders Place Their Bets

In other 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 transaction of $45,490.00. Following the sale, 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 business’s stock in a transaction 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 of the company’s stock, valued at approximately $418,859.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction on 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 directly owns 52,539 shares of the company’s stock, valued at $2,389,999.11. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI opened at $46.24 on Friday. The firm’s 50 day simple moving average is $44.06 and its 200 day simple moving average is $39.83. Glacier Bancorp, Inc. has a fifty-two week low of $26.83 and a fifty-two week high of $47.71. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 26.42 and a beta of 0.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81.

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. The firm had revenue of $306.04 million during the quarter, compared to the consensus estimate of $204.43 million. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. During the same quarter in the prior year, the firm earned $0.50 earnings per share. As a group, sell-side analysts forecast that Glacier Bancorp, Inc. will post 1.62 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

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

Glacier Bancorp 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.