Park Avenue Securities LLC Lowers Holdings in Glacier Bancorp, Inc. $GBCI

Park Avenue Securities LLC lowered its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,433 shares of the bank’s stock after selling 247 shares during the quarter. Park Avenue Securities LLC’s holdings in Glacier Bancorp were worth $234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Interstate Bank purchased a new stake in Glacier Bancorp in the first quarter worth about $593,000. Bessemer Group Inc. raised its holdings in shares of Glacier Bancorp by 1,839.2% in the 1st quarter. Bessemer Group Inc. now owns 9,599 shares of the bank’s stock valued at $424,000 after purchasing an additional 9,104 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Glacier Bancorp by 4,580.7% in the 1st 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 period. Empower Advisory Group LLC bought a new position in shares of Glacier Bancorp during the first quarter valued at approximately $864,000. Finally, Royal Bank of Canada increased its holdings in Glacier Bancorp by 6.8% during the first quarter. Royal Bank of Canada now owns 383,150 shares of the bank’s stock valued at $16,942,000 after buying an additional 24,398 shares during the period. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Trading Down 0.9%

NASDAQ GBCI opened at $48.22 on Thursday. Glacier Bancorp, Inc. has a 12-month low of $36.76 and a 12-month high of $60.67. The company has a fifty day simple moving average of $47.28 and a two-hundred day simple moving average of $44.20. 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 stock has a market cap of $5.72 billion, a P/E ratio of 28.88 and a beta of 0.82.

Glacier Bancorp (NASDAQ:GBCI) last released 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 last year, the company earned $0.39 earnings per share. On average, analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, October 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. Glacier Bancorp’s payout ratio is 68.75%.

Insider Activity at Glacier Bancorp

In related news, insider Lee Kenneth Groom sold 800 shares of the company’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 value of $35,392.00. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GBCI. Raymond James Financial restated an “outperform” rating and set a $48.00 target price (up previously from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. DA Davidson reiterated a “buy” rating and issued a $50.00 target price on shares of Glacier Bancorp in a research note on Wednesday, June 25th. Janney Montgomery Scott raised shares of 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. Keefe, Bruyette & Woods raised their price target on shares of Glacier Bancorp from $52.00 to $55.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Finally, Piper Sandler boosted their price objective 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 investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Glacier Bancorp currently has an average rating of “Moderate Buy” and an average target price of $50.50.

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.