Vanguard Group Inc. Sells 122,013 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Vanguard Group Inc. trimmed its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,907,150 shares of the bank’s stock after selling 122,013 shares during the period. Vanguard Group Inc. owned 10.49% of Glacier Bancorp worth $526,534,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Westwood Holdings Group Inc. raised its stake in shares of Glacier Bancorp by 7.6% during the first quarter. Westwood Holdings Group Inc. now owns 623,814 shares of the bank’s stock worth $27,585,000 after buying an additional 44,246 shares during the last quarter. Empower Advisory Group LLC bought a new stake in shares of Glacier Bancorp during the first quarter worth approximately $864,000. Natixis Advisors LLC raised its stake in shares of Glacier Bancorp by 9.1% during the first quarter. Natixis Advisors LLC now owns 400,520 shares of the bank’s stock worth $17,711,000 after buying an additional 33,336 shares during the last quarter. XTX Topco Ltd acquired a new position in Glacier Bancorp during the first quarter valued at approximately $1,816,000. Finally, Federated Hermes Inc. grew its holdings in Glacier Bancorp by 17.8% during the first quarter. Federated Hermes Inc. now owns 13,685 shares of the bank’s stock valued at $605,000 after purchasing an additional 2,069 shares during the period. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Stock Down 1.4%

Glacier Bancorp stock opened at $46.18 on Friday. The stock has a market capitalization of $5.48 billion, a PE ratio of 27.66 and a beta of 0.79. Glacier Bancorp, Inc. has a twelve month low of $36.76 and a twelve month high of $60.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $44.23 and a 200-day moving average of $44.16.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter last year, the firm posted $0.39 earnings per share. On average, equities research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp’s dividend payout ratio is 68.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GBCI shares. Janney Montgomery Scott upgraded shares of Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Thursday, June 5th. Piper Sandler boosted their price objective on shares of Glacier Bancorp from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Glacier Bancorp from $50.00 to $52.00 and gave the company a “market perform” rating in a report on Friday, June 27th. DA Davidson restated a “buy” rating and set a $50.00 price objective on shares of Glacier Bancorp in a report on Wednesday, June 25th. Finally, Raymond James Financial restated an “outperform” rating and set a $48.00 price objective (up previously from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.00.

Insider Buying and Selling at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $44.24, for a total value of $35,392.00. Following the completion of the transaction, the insider owned 11,918 shares in the company, valued at $527,252.32. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

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.