13,052 Shares in Glacier Bancorp, Inc. $GBCI Bought by Mountain Pacific Investment Advisers LLC

Key Points

• Mountain Pacific Investment Advisers LLC acquired 13,052 shares of Glacier Bancorp, Inc. (NASDAQ:GBCI), valued at approximately $562,000, in the second quarter.
• Glacier Bancorp's quarterly dividend of $0.33 will be paid on October 16th, with a 2.7% dividend yield based on an annualized rate of $1.32.
• Analysts have set a consensus price target of $50.50 for Glacier Bancorp, with various ratings, including one Strong Buy and three Buy ratings.

Mountain Pacific Investment Advisers LLC purchased a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,052 shares of the bank's stock, valued at approximately $562,000.

A number of other large investors have also recently made changes to their positions in GBCI. Janney Montgomery Scott LLC raised its holdings in shares of Glacier Bancorp by 1.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,630 shares of the bank's stock worth $544,000 after acquiring an additional 240 shares during the last quarter. First American Bank grew its stake in shares of Glacier Bancorp by 11.7% in the 2nd quarter. First American Bank now owns 36,832 shares of the bank's stock worth $1,587,000 after acquiring an additional 3,856 shares in the last quarter. Argent Capital Management LLC raised its holdings in shares of Glacier Bancorp by 5.5% in the second quarter. Argent Capital Management LLC now owns 17,713 shares of the bank's stock valued at $763,000 after purchasing an additional 916 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Glacier Bancorp by 56.1% during the second quarter. UMB Bank n.a. now owns 1,308 shares of the bank's stock valued at $56,000 after purchasing an additional 470 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Glacier Bancorp during the second quarter worth about $304,000. 80.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on GBCI. DA Davidson reaffirmed a "buy" rating and set a $50.00 price target on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Janney Montgomery Scott raised shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target on the stock in a report on Thursday, June 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Glacier Bancorp from $52.00 to $55.00 and gave the stock a "market perform" rating in a research report on Thursday, August 28th. Raymond James Financial reiterated an "outperform" rating and issued a $48.00 price objective (up previously from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Finally, Piper Sandler raised 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. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.50.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $48.22 on Thursday. The company's 50 day simple moving average is $47.28 and its two-hundred day simple moving average is $44.20. 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, Inc. has a 1 year low of $36.76 and a 1 year high of $60.67. The stock has a market capitalization of $5.72 billion, a PE ratio of 28.88 and a beta of 0.82.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same quarter in the prior year, the firm posted $0.39 earnings per share. Analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share 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 issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. Glacier Bancorp's dividend payout ratio (DPR) is presently 68.75%.

Insider Buying and Selling at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of Glacier Bancorp stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $44.24, for a total transaction of $35,392.00. Following the completion of the sale, the insider owned 11,918 shares in the company, valued at approximately $527,252.32. This trade represents a 6.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.