Intech Investment Management LLC Acquires New Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Intech Investment Management LLC purchased a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,551 shares of the bank’s stock, valued at approximately $207,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Glacier Bancorp in the first quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in Glacier Bancorp in the second quarter worth approximately $25,000. Headlands Technologies LLC acquired a new position in Glacier Bancorp in the first quarter worth approximately $50,000. GAMMA Investing LLC grew its position in Glacier Bancorp by 96.9% in the second 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 last quarter. Finally, TFO Wealth Partners LLC grew its position in Glacier Bancorp by 66,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 3,972 shares of the bank’s stock worth $164,000 after buying an additional 3,966 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Trading Up 0.2 %

NASDAQ GBCI opened at $45.20 on Friday. Glacier Bancorp, Inc. has a twelve month low of $27.36 and a twelve month 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 stock has a market cap of $5.13 billion, a price-to-earnings ratio of 25.83 and a beta of 0.80. The firm’s 50 day moving average price is $44.27 and its two-hundred day moving average price is $40.00.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $306.04 million for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $0.50 EPS. Equities analysts anticipate that Glacier Bancorp, Inc. will post 1.62 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

Insider Buying and Selling at Glacier Bancorp

In other Glacier Bancorp news, CAO Don J. Chery sold 1,000 shares of Glacier Bancorp 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 completion of the sale, the chief accounting officer now owns 52,539 shares of the company’s stock, valued at approximately $2,389,999.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Glacier Bancorp news, CAO Don J. Chery sold 1,000 shares of Glacier Bancorp 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 completion of the sale, the chief accounting officer now owns 52,539 shares of the company’s stock, valued at approximately $2,389,999.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Truist Financial lifted their price target on shares of Glacier Bancorp from $46.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Piper Sandler reiterated a “neutral” rating and set a $38.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.80.

Glacier Bancorp Company 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.