Deprince Race & Zollo Inc. Increases Position in Glacier Bancorp, Inc. $GBCI

Deprince Race & Zollo Inc. boosted its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 41.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,272,041 shares of the bank’s stock after purchasing an additional 373,196 shares during the quarter. Glacier Bancorp makes up 1.2% of Deprince Race & Zollo Inc.’s holdings, making the stock its 15th largest position. Deprince Race & Zollo Inc. owned about 1.07% of Glacier Bancorp worth $61,910,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GBCI. Janney Montgomery Scott LLC lifted its position in shares of Glacier Bancorp by 1.9% during the 2nd 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 in the last quarter. AlphaQuest LLC raised its position in Glacier Bancorp by 9.5% during the second quarter. AlphaQuest LLC now owns 3,001 shares of the bank’s stock worth $129,000 after acquiring an additional 260 shares during the period. Farther Finance Advisors LLC lifted its holdings in Glacier Bancorp by 20.4% during the third quarter. Farther Finance Advisors LLC now owns 1,609 shares of the bank’s stock valued at $78,000 after purchasing an additional 273 shares in the last quarter. M&T Bank Corp grew its position in shares of Glacier Bancorp by 0.4% in the second quarter. M&T Bank Corp now owns 69,744 shares of the bank’s stock valued at $3,004,000 after purchasing an additional 307 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Glacier Bancorp by 1.8% in the second 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 period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Trading Down 0.6%

GBCI opened at $45.53 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $42.92 and its two-hundred day simple moving average is $45.06. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 27.26 and a beta of 0.78. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $52.81.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, October 16th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate 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 last year, the firm posted $0.46 earnings per share. Analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, December 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. Glacier Bancorp’s payout ratio is presently 64.71%.

Analysts Set New Price Targets

GBCI has been the subject of several research analyst reports. DA Davidson restated a “buy” rating and set a $58.00 price target on shares of Glacier Bancorp in a research report on Wednesday, November 12th. Raymond James Financial cut their price objective on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Keefe, Bruyette & Woods raised Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 target price for the company in a report on Monday, December 15th. Finally, Piper Sandler upgraded Glacier Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the company from $50.00 to $58.00 in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $53.60.

Insider Activity

In other news, CFO Ron J. Copher acquired 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average price of $41.17 per share, with a total value of $98,808.00. Following the completion of the acquisition, the chief financial officer owned 96,626 shares of the company’s stock, valued at $3,978,092.42. This trade represents a 2.55% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lee Kenneth Groom bought 2,425 shares of Glacier Bancorp stock in a transaction on Thursday, November 6th. The shares were purchased at an average cost of $41.26 per share, for a total transaction of $100,055.50. Following the completion of the purchase, 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 SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 8,852 shares of company stock worth $364,484. 0.53% of the stock is owned by insiders.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.