Frank Rimerman Advisors LLC Buys Shares of 14,671 Glacier Bancorp, Inc. (NASDAQ:GBCI)

Frank Rimerman Advisors LLC purchased a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,671 shares of the bank’s stock, valued at approximately $548,000.

Several other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in Glacier Bancorp in the 1st quarter worth about $25,000. International Assets Investment Management LLC acquired a new position in shares of Glacier Bancorp in the second quarter valued at approximately $25,000. Headlands Technologies LLC bought a new position in Glacier Bancorp in the 1st quarter valued at approximately $50,000. GAMMA Investing LLC boosted its position in Glacier Bancorp by 96.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after buying an additional 772 shares during the period. Finally, TFO Wealth Partners LLC grew its holdings in Glacier Bancorp by 66,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,972 shares of the bank’s stock worth $164,000 after acquiring an additional 3,966 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $46.01 on Tuesday. 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 firm’s fifty day simple moving average is $44.15 and its two-hundred day simple moving average is $39.87. Glacier Bancorp, Inc. has a 12 month low of $27.36 and a 12 month high of $47.71. The stock has a market capitalization of $5.22 billion, a P/E ratio of 26.29 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, topping 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 business had revenue of $306.04 million during the quarter, compared to analysts’ expectations of $204.43 million. During the same quarter last year, the firm posted $0.50 earnings per share. As a group, analysts predict that Glacier Bancorp, Inc. will post 1.62 EPS for the current year.

Insider Transactions at Glacier Bancorp

In related news, CAO Don J. Chery sold 1,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $45.49, for a total transaction of $45,490.00. Following the transaction, the chief accounting officer now directly owns 52,539 shares of the company’s stock, valued at $2,389,999.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 52,539 shares of the company’s stock, valued at approximately $2,389,999.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $250,326.45. Following the completion of the transaction, the director now owns 9,402 shares in the company, valued at approximately $418,859.10. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.