Creative Planning Buys 7,381 Shares of Glacier Bancorp, Inc. $GBCI

Creative Planning lifted its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 13.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,402 shares of the bank’s stock after buying an additional 7,381 shares during the period. Creative Planning owned about 0.05% of Glacier Bancorp worth $2,645,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Glacier Bancorp during the 1st quarter worth $1,625,000. Equitable Trust Co. raised its holdings in shares of Glacier Bancorp by 15.1% in the first quarter. Equitable Trust Co. now owns 8,146 shares of the bank’s stock valued at $360,000 after purchasing an additional 1,067 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Glacier Bancorp by 7.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,290 shares of the bank’s stock valued at $1,384,000 after purchasing an additional 2,117 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Glacier Bancorp by 12.6% during the first quarter. Mackenzie Financial Corp now owns 14,505 shares of the bank’s stock worth $641,000 after purchasing an additional 1,625 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Glacier Bancorp by 17.8% during the first quarter. Federated Hermes Inc. now owns 13,685 shares of the bank’s stock worth $605,000 after purchasing an additional 2,069 shares during the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GBCI shares. DA Davidson reiterated a “buy” rating and issued a $58.00 price objective on shares of Glacier Bancorp in a research note on Wednesday, November 12th. Raymond James Financial decreased their price target on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Piper Sandler reiterated a “neutral” rating and set a $50.00 price target on shares of Glacier Bancorp in a report on Monday, October 20th. Finally, Keefe, Bruyette & Woods reduced their price objective on Glacier Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Insider Buying and Selling at Glacier Bancorp

In other Glacier Bancorp news, CEO Randall M. Chesler purchased 2,437 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average cost of $40.91 per share, for a total transaction of $99,697.67. Following the purchase, the chief executive officer owned 7,422 shares of the company’s stock, valued at $303,634.02. This represents a 48.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lee Kenneth Groom acquired 2,425 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average cost of $41.26 per share, with a total value of $100,055.50. Following the completion of the acquisition, the insider owned 14,343 shares in the company, valued at $591,792.18. This trade represents a 20.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 8,852 shares of company stock worth $364,484 over the last ninety days. Company insiders own 0.53% of the company’s stock.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $42.17 on Monday. 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 fifty day simple moving average of $45.04 and a two-hundred day simple moving average of $44.77. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 25.25 and a beta of 0.83.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, October 16th. The bank reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.05). 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 firm posted $0.46 EPS. 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 disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Tuesday, December 9th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $1.32 annualized dividend and a yield of 3.1%. Glacier Bancorp’s dividend payout ratio is 64.71%.

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.