Glacier Bancorp, Inc. $GBCI Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 904,179 shares of the bank’s stock after selling 58,276 shares during the quarter. Fisher Asset Management LLC owned about 0.76% of Glacier Bancorp worth $38,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its stake in Glacier Bancorp by 1.9% in the second quarter. Janney Montgomery Scott LLC now owns 12,630 shares of the bank’s stock valued at $544,000 after buying an additional 240 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Glacier Bancorp by 9.5% during the second quarter. AlphaQuest LLC now owns 3,001 shares of the bank’s stock valued at $129,000 after acquiring an additional 260 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Glacier Bancorp by 1.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,578 shares of the bank’s stock valued at $800,000 after purchasing an additional 331 shares during the last quarter. Securian Asset Management Inc. raised its position in shares of Glacier Bancorp by 5.2% in the 2nd quarter. Securian Asset Management Inc. now owns 9,015 shares of the bank’s stock valued at $388,000 after purchasing an additional 443 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Glacier Bancorp by 2.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 22,812 shares of the bank’s stock worth $983,000 after purchasing an additional 450 shares in the last quarter. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GBCI. DA Davidson restated a “buy” rating and set a $58.00 price target on shares of Glacier Bancorp in a research note on Wednesday, November 12th. Raymond James Financial dropped their price objective on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Keefe, Bruyette & Woods reduced their target price 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. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price target on shares of Glacier Bancorp in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Glacier Bancorp has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Insider Buying and Selling

In other news, insider Lee Kenneth Groom acquired 2,425 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was acquired at an average price of $41.26 per share, for a total transaction of $100,055.50. Following the completion of the transaction, the insider owned 14,343 shares in the company, valued at approximately $591,792.18. The trade was a 20.35% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan Thomas Screnar bought 979 shares of the stock in a transaction dated Thursday, November 6th. The shares were purchased at an average cost of $41.88 per share, for a total transaction of $41,000.52. Following the completion of the purchase, the insider owned 10,842 shares in the company, valued at approximately $454,062.96. This represents a 9.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 8,852 shares of company stock worth $364,484. 0.53% of the stock is currently owned by company insiders.

Glacier Bancorp Trading Down 1.1%

NASDAQ GBCI opened at $42.56 on Wednesday. The company has a market capitalization of $5.53 billion, a PE ratio of 25.49 and a beta of 0.83. The company has a fifty day moving average of $44.14 and a 200 day moving average of $44.74. Glacier Bancorp, Inc. has a 1 year low of $36.76 and a 1 year high of $58.29. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, October 16th. The bank reported $0.57 earnings per share 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 business posted $0.46 EPS. Research analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Tuesday, December 9th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $1.32 dividend on an annualized basis and a yield of 3.1%. Glacier Bancorp’s payout ratio is presently 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.