Renaissance Technologies LLC Makes New $2.52 Million Investment in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Renaissance Technologies LLC bought a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 67,592 shares of the bank’s stock, valued at approximately $2,523,000. Renaissance Technologies LLC owned about 0.06% of Glacier Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in Glacier Bancorp by 3.7% during the 4th quarter. Wells Fargo & Company MN now owns 180,128 shares of the bank’s stock worth $7,443,000 after purchasing an additional 6,502 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Glacier Bancorp by 23.7% during the 4th quarter. US Bancorp DE now owns 15,792 shares of the bank’s stock worth $653,000 after purchasing an additional 3,022 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Glacier Bancorp by 31.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,006 shares of the bank’s stock valued at $331,000 after purchasing an additional 1,918 shares in the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Glacier Bancorp by 66,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,972 shares of the bank’s stock valued at $164,000 after purchasing an additional 3,966 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its position in Glacier Bancorp by 45.6% during the fourth quarter. Eagle Asset Management Inc. now owns 64,868 shares of the bank’s stock worth $2,680,000 after buying an additional 20,312 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Insiders Place Their Bets

In other news, Director Annie M. Goodwin sold 5,619 shares of the business’s 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 transaction, the director now owns 9,402 shares of the company’s stock, valued at $418,859.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Glacier Bancorp news, CAO Don J. Chery sold 1,000 shares of the business’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 owns 52,539 shares in the company, valued at approximately $2,389,999.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Annie M. Goodwin sold 5,619 shares of the firm’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 completion of the sale, the director now directly owns 9,402 shares of the company’s stock, valued at $418,859.10. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.

Analysts Set New Price Targets

GBCI has been the subject of several analyst reports. Piper Sandler restated a “neutral” rating and issued a $38.00 target price on shares of Glacier Bancorp in a report on Tuesday, August 27th. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a report on Thursday, June 6th. Finally, Truist Financial lifted their target price on shares of Glacier Bancorp from $46.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $43.80.

Glacier Bancorp Stock Down 3.5 %

Glacier Bancorp stock opened at $44.09 on Wednesday. The stock’s fifty day moving average is $44.28 and its two-hundred day moving average is $40.10. The stock has a market cap of $5.00 billion, a PE ratio of 25.19 and a beta of 0.80. Glacier Bancorp, Inc. has a 1-year low of $27.36 and a 1-year high of $47.71. 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 posted its earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $306.04 million for 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 period last year, the firm posted $0.50 EPS. On average, sell-side analysts expect that Glacier Bancorp, Inc. will post 1.62 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

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.