Raymond James Financial Inc. Acquires 5,765 Shares of Glacier Bancorp, Inc. $GBCI

Raymond James Financial Inc. raised its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,806 shares of the bank’s stock after acquiring an additional 5,765 shares during the quarter. Raymond James Financial Inc. owned approximately 0.17% of Glacier Bancorp worth $8,659,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. First Interstate Bank bought a new stake in shares of Glacier Bancorp in the first quarter worth about $593,000. Bessemer Group Inc. increased its holdings in shares of Glacier Bancorp by 1,839.2% in the first quarter. Bessemer Group Inc. now owns 9,599 shares of the bank’s stock worth $424,000 after purchasing an additional 9,104 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Glacier Bancorp by 4,580.7% in the first quarter. GAMMA Investing LLC now owns 142,388 shares of the bank’s stock worth $6,296,000 after purchasing an additional 139,346 shares during the last quarter. Empower Advisory Group LLC bought a new stake in shares of Glacier Bancorp in the first quarter worth about $864,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Glacier Bancorp by 3.7% in the first quarter. Envestnet Asset Management Inc. now owns 189,263 shares of the bank’s stock worth $8,369,000 after purchasing an additional 6,806 shares during the last quarter. 80.17% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Glacier Bancorp from $52.00 to $55.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. DA Davidson reaffirmed a “buy” rating and issued a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday, June 25th. Janney Montgomery Scott upgraded Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Thursday, June 5th. Piper Sandler boosted their price objective on Glacier Bancorp from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Finally, Raymond James Financial reissued an “outperform” rating and set a $48.00 price objective (up from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Glacier Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $50.50.

Glacier Bancorp Trading Up 0.8%

Shares of NASDAQ GBCI opened at $49.20 on Tuesday. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67. The business’s 50 day moving average is $45.65 and its two-hundred day moving average is $43.87. The stock has a market capitalization of $5.83 billion, a P/E ratio of 29.46 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share (EPS) 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 period in the previous year, the business posted $0.39 EPS. As a group, research analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp’s payout ratio is 68.75%.

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.