KLP Kapitalforvaltning AS Boosts Stake in Glacier Bancorp, Inc. $GBCI

KLP Kapitalforvaltning AS raised its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 9.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 23,673 shares of the bank’s stock after acquiring an additional 2,100 shares during the period. KLP Kapitalforvaltning AS’s holdings in Glacier Bancorp were worth $1,020,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in Glacier Bancorp by 9.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank’s stock valued at $60,198,000 after acquiring an additional 113,544 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Glacier Bancorp by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock valued at $59,799,000 after acquiring an additional 73,756 shares during the last quarter. Madison Asset Management LLC raised its holdings in Glacier Bancorp by 9.5% in the 1st quarter. Madison Asset Management LLC now owns 1,041,736 shares of the bank’s stock valued at $46,066,000 after acquiring an additional 90,512 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in Glacier Bancorp by 7.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 623,814 shares of the bank’s stock valued at $27,585,000 after acquiring an additional 44,246 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Glacier Bancorp in the 1st quarter valued at $21,220,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Stock Down 2.2%

NASDAQ:GBCI opened at $47.97 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day simple moving average of $47.91 and a 200 day simple moving average of $44.40. Glacier Bancorp, Inc. has a one year low of $36.76 and a one year high of $60.67. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 28.73 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, July 24th. The bank reported $0.45 EPS 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 last year, the company earned $0.39 earnings per share. Sell-side analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, October 7th will be given a $0.33 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $1.32 annualized dividend and a yield of 2.8%. Glacier Bancorp’s payout ratio is 68.75%.

Insider Transactions at Glacier Bancorp

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of Glacier Bancorp stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $44.24, for a total transaction of $35,392.00. Following the transaction, the insider directly owned 11,918 shares in the company, valued at approximately $527,252.32. The trade was a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

GBCI has been the subject of several analyst reports. DA Davidson reiterated a “buy” rating and issued a $50.00 price target on shares of Glacier Bancorp in a report on Wednesday, June 25th. Piper Sandler increased their target price on Glacier Bancorp from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods increased their target price 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. Finally, Raymond James Financial set a $55.00 target price on Glacier Bancorp and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.67.

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.