21,827 Shares in Glacier Bancorp, Inc. $GBCI Bought by First Trust Advisors LP

Key Points

• First Trust Advisors LP purchased 21,827 shares of Glacier Bancorp during the first quarter, worth approximately $975,000. Institutional investors collectively own 80.17% of the company.
• Analyst sentiment is generally positive: Glacier Bancorp has a consensus rating of “Moderate Buy” and an average price target of $55.17, compared with shares opening at $48.60.
• The bank reported quarterly earnings of $0.76 per share, matching estimates, and paid a quarterly dividend of $0.33. The annualized dividend is $1.32, representing a 2.7% yield.

First Trust Advisors LP bought a new position in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,827 shares of the company's stock, valued at approximately $975,000.

Several other large investors also recently bought and sold shares of the company. Root Financial Partners LLC raised its stake in shares of Glacier Bancorp by 122.5% during the 1st quarter. Root Financial Partners LLC now owns 652 shares of the company's stock worth $29,000 after buying an additional 359 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Glacier Bancorp in the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC increased its holdings in Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company's stock valued at $31,000 after acquiring an additional 490 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Glacier Bancorp by 41.2% during the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company's stock valued at $34,000 after acquiring an additional 223 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Glacier Bancorp during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Analyst Ratings Changes

GBCI has been the topic of several research reports. Piper Sandler increased their price target on shares of Glacier Bancorp from $59.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Stephens lifted their price objective on Glacier Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. DA Davidson reaffirmed a "buy" rating and issued a $58.00 target price on shares of Glacier Bancorp in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.17.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $48.60 on Tuesday. Glacier Bancorp, Inc. has a 1 year low of $39.90 and a 1 year high of $54.58. The company's 50 day simple moving average is $50.10 and its 200 day simple moving average is $48.51. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 19.92 and a beta of 0.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. The firm had revenue of $320.94 million during the quarter. During the same period in the previous year, the firm posted $0.57 earnings per share. On average, sell-side analysts predict that Glacier Bancorp, Inc. will post 3.11 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. Glacier Bancorp's payout ratio is currently 54.10%.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.

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