Ceredex Value Advisors LLC Boosts Stock Holdings in Glacier Bancorp, Inc. $GBCI

Ceredex Value Advisors LLC increased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 21.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 348,400 shares of the bank’s stock after acquiring an additional 62,350 shares during the period. Ceredex Value Advisors LLC owned about 0.29% of Glacier Bancorp worth $15,009,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in shares of Glacier Bancorp in the 2nd quarter worth $26,000. eCIO Inc. bought a new stake in Glacier Bancorp in the 1st quarter worth about $33,000. UMB Bank n.a. raised its position in Glacier Bancorp by 56.1% in the 2nd quarter. UMB Bank n.a. now owns 1,308 shares of the bank’s stock worth $56,000 after buying an additional 470 shares during the last quarter. AlphaQuest LLC purchased a new position in Glacier Bancorp in the 1st quarter worth about $121,000. Finally, Bayforest Capital Ltd lifted its stake in Glacier Bancorp by 2,446.9% during the 2nd quarter. Bayforest Capital Ltd now owns 4,508 shares of the bank’s stock valued at $194,000 after acquiring an additional 4,331 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Glacier Bancorp Stock Down 0.8%

GBCI opened at $42.30 on Friday. The firm’s 50 day simple moving average is $44.41 and its two-hundred day simple moving average is $44.73. The company has a market capitalization of $5.50 billion, a PE ratio of 25.33 and a beta of 0.83. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $59.18. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, October 16th. The bank reported $0.57 earnings per share (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 quarter in the prior year, the company posted $0.46 EPS. As a group, equities analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Tuesday, December 9th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $1.32 annualized dividend and a dividend yield of 3.1%. Glacier Bancorp’s dividend payout ratio (DPR) is 64.71%.

Insider Buying and Selling

In other news, insider Lee Kenneth Groom purchased 2,425 shares of the stock in a transaction on Thursday, November 6th. The shares were acquired at an average price of $41.26 per share, with a total value of $100,055.50. Following the completion of the acquisition, the insider directly owned 14,343 shares of the company’s stock, valued at $591,792.18. This trade represents a 20.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Randall M. Chesler acquired 2,437 shares of Glacier Bancorp stock in a transaction dated Wednesday, November 5th. The stock was purchased at an average cost of $40.91 per share, with a total value of $99,697.67. Following the completion of the purchase, the chief executive officer owned 7,422 shares of the company’s stock, valued at approximately $303,634.02. This represents a 48.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 8,852 shares of company stock valued at $364,484 in the last 90 days. Corporate insiders own 0.53% of the company’s stock.

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.