Glacier Bancorp, Inc. $GBCI Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC cut its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 22.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,495 shares of the bank’s stock after selling 725 shares during the quarter. GAMMA Investing LLC’s holdings in Glacier Bancorp were worth $107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of GBCI. eCIO Inc. acquired a new position in Glacier Bancorp during the 1st quarter worth about $33,000. JNBA Financial Advisors purchased a new stake in Glacier Bancorp during the first quarter worth about $35,000. UMB Bank n.a. increased its stake in Glacier Bancorp by 114.9% during the first quarter. UMB Bank n.a. now owns 838 shares of the bank’s stock worth $37,000 after purchasing an additional 448 shares during the period. Farther Finance Advisors LLC increased its stake in Glacier Bancorp by 252.1% during the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank’s stock worth $62,000 after purchasing an additional 1,001 shares during the period. Finally, AlphaQuest LLC acquired a new position in shares of Glacier Bancorp in the first quarter valued at approximately $121,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 0.9%

Shares of Glacier Bancorp stock opened at $48.22 on Thursday. Glacier Bancorp, Inc. has a 52-week low of $36.76 and a 52-week 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’s 50-day simple moving average is $47.28 and its 200-day simple moving average is $44.20. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 28.88 and a beta of 0.82.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates 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 earnings per share. As a group, equities research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, October 7th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, October 7th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 68.75%.

Insider Transactions at Glacier Bancorp

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the stock in a transaction on Thursday, July 31st. The stock was 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 approximately $527,252.32. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on GBCI shares. Janney Montgomery Scott upgraded Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Thursday, June 5th. DA Davidson restated a “buy” rating and set a $50.00 price target on shares of Glacier Bancorp in a report on Wednesday, June 25th. Keefe, Bruyette & Woods boosted their price objective on Glacier Bancorp from $52.00 to $55.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. 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 report on Thursday, June 26th. Finally, Piper Sandler lifted their price target on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

About Glacier Bancorp

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.