Glacier Bancorp, Inc. $GBCI Shares Purchased by Royal Bank of Canada

Royal Bank of Canada raised its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 383,150 shares of the bank’s stock after buying an additional 24,398 shares during the period. Royal Bank of Canada owned about 0.34% of Glacier Bancorp worth $16,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in GBCI. Wood Tarver Financial Group LLC acquired a new stake in Glacier Bancorp during the 4th quarter worth approximately $33,000. JNBA Financial Advisors purchased a new stake in shares of Glacier Bancorp during the first quarter worth $35,000. UMB Bank n.a. raised its stake in shares of Glacier Bancorp by 114.9% in the first quarter. UMB Bank n.a. now owns 838 shares of the bank’s stock valued at $37,000 after acquiring an additional 448 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Glacier Bancorp by 252.1% in the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank’s stock valued at $62,000 after purchasing an additional 1,001 shares during the period. Finally, AlphaQuest LLC acquired a new position in Glacier Bancorp during the 1st quarter worth $121,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

GBCI stock opened at $48.52 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $5.75 billion, a P/E ratio of 29.05 and a beta of 0.82. The business has a 50 day simple moving average of $46.34 and a 200-day simple moving average of $43.90. Glacier Bancorp, Inc. has a twelve month low of $36.76 and a twelve month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, July 24th. The bank reported $0.45 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 quarter in the previous year, the company posted $0.39 earnings per share. As a group, equities analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, July 8th. Glacier Bancorp’s dividend payout ratio is presently 68.75%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Glacier Bancorp

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

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.