Millennium Management LLC Has $17.81 Million Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Millennium Management LLC raised its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 131.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 477,154 shares of the bank’s stock after acquiring an additional 271,398 shares during the quarter. Millennium Management LLC owned about 0.42% of Glacier Bancorp worth $17,807,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Glacier Bancorp during the 1st quarter valued at $25,000. International Assets Investment Management LLC acquired a new stake in shares of Glacier Bancorp in the 2nd quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in Glacier Bancorp during the 1st quarter worth approximately $50,000. GAMMA Investing LLC lifted its stake in Glacier Bancorp by 96.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after purchasing an additional 772 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Glacier Bancorp in the second quarter valued at approximately $207,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Insider Transactions at Glacier Bancorp

In related news, CAO Don J. Chery sold 1,000 shares of the business’s 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 owns 52,539 shares in the company, valued at $2,389,999.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Annie M. Goodwin sold 5,619 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $418,859.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Don J. Chery sold 1,000 shares of Glacier Bancorp stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Glacier Bancorp Stock Up 2.0 %

Shares of NASDAQ GBCI opened at $45.57 on Friday. Glacier Bancorp, Inc. has a 52-week low of $28.55 and a 52-week high of $47.71. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50 day moving average price is $44.26 and its 200-day moving average price is $40.24. The company has a market capitalization of $5.17 billion, a P/E ratio of 26.04 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly 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. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The business had revenue of $306.04 million for the quarter, compared to analysts’ expectations of $204.43 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Equities 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 declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Tuesday, October 8th. Glacier Bancorp’s payout ratio is 75.43%.

Analysts Set New Price Targets

GBCI has been the topic of several recent research reports. Truist Financial raised their price objective on Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a report on Friday, September 20th. Piper Sandler reiterated a “neutral” rating and set a $38.00 price target on shares of Glacier Bancorp in a report on Tuesday, August 27th. Finally, Raymond James increased their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday. 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. Based on data from MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and a consensus target price of $44.20.

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.