26,621 Glacier Bancorp, Inc. $GBCI Shares Bought by Bridge City Capital LLC

Key Points

• Bridge City Capital increased its Glacier Bancorp stake by 16.3% in the third quarter, purchasing 26,621 shares and bringing its holdings to 189,680 shares valued at approximately $8.2 million. Institutional investors collectively own 80.17% of GBCI.
• Analyst sentiment remains mixed: four analysts rate the stock Buy, two Hold, and one Sell, resulting in a consensus Hold rating and an average price target of $57. Piper Sandler recently raised its target to $63.
• Glacier Bancorp reported quarterly EPS of $0.81, ahead of the $0.79 consensus estimate, and authorized a $200 million share-repurchase program. The company also increased its quarterly dividend to $0.35 per share, implying a 2.9% annual yield.

Bridge City Capital LLC lifted its holdings in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 16.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,680 shares of the company's stock after purchasing an additional 26,621 shares during the period. Glacier Bancorp accounts for about 1.7% of Bridge City Capital LLC's portfolio, making the stock its 16th biggest position. Bridge City Capital LLC owned 0.15% of Glacier Bancorp worth $8,194,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Inspire Investing LLC boosted its holdings in shares of Glacier Bancorp by 11.9% during the 3rd quarter. Inspire Investing LLC now owns 14,739 shares of the company's stock worth $637,000 after buying an additional 1,571 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Glacier Bancorp during the 3rd quarter worth approximately $27,000. Abel Hall LLC grew its position in shares of Glacier Bancorp by 14.7% during the 3rd quarter. Abel Hall LLC now owns 7,761 shares of the company's stock worth $335,000 after buying an additional 996 shares during the period. GAMMA Investing LLC increased its stake in shares of Glacier Bancorp by 29.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,629 shares of the company's stock valued at $157,000 after acquiring an additional 831 shares in the last quarter. Finally, Moody National Bank Trust Division increased its stake in shares of Glacier Bancorp by 19.9% in the 3rd quarter. Moody National Bank Trust Division now owns 26,963 shares of the company's stock valued at $1,165,000 after acquiring an additional 4,469 shares in the last quarter. Institutional investors own 80.17% of the company's stock.

Insider Activity at Glacier Bancorp

In other Glacier Bancorp news, Chairman Craig Langel bought 2,250 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was bought at an average cost of $47.04 per share, with a total value of $105,840.00. Following the completion of the transaction, the chairman directly owned 98,684 shares in the company, valued at approximately $4,642,095.36. The trade was a 2.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GBCI has been the topic of several research analyst reports. DA Davidson reissued a "buy" rating and set a $58.00 target price on shares of Glacier Bancorp in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. Finally, Piper Sandler lifted their price target on shares of Glacier Bancorp from $60.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, October 26th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Glacier Bancorp has a consensus rating of "Hold" and an average target price of $57.00.

Glacier Bancorp Price Performance

Shares of GBCI opened at $48.51 on Monday. The business's fifty day moving average is $45.33 and its 200 day moving average is $47.69. Glacier Bancorp, Inc. has a 12-month low of $39.90 and a 12-month high of $54.58. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.05. The stock has a market cap of $6.32 billion, a P/E ratio of 18.17 and a beta of 0.77.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.02. Glacier Bancorp had a net margin of 21.24% and a return on equity of 8.38%. The business had revenue of $333.42 million during the quarter. During the same quarter last year, the firm posted $0.57 EPS. Sell-side analysts anticipate that Glacier Bancorp, Inc. will post 3.11 earnings per share for the current fiscal year.

Glacier Bancorp declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 29th that allows the company to buy back $200 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.2% of its stock through open market purchases. Share repurchase plans are generally a sign that the company's leadership believes its shares are undervalued.

Glacier Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Tuesday, October 6th were issued a dividend of $0.35 per share. This is an increase from Glacier Bancorp's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, October 6th. Glacier Bancorp's dividend payout ratio is 52.43%.

About Glacier Bancorp

Glacier Bancorp, Inc is a regional bank holding company headquartered in Kalispell, Montana. Through its banking subsidiaries, including Glacier Bank, the company provides financial services to individuals, families, businesses and community organizations across the Mountain West and Inland Northwest.

The company's products and services include checking and savings accounts, certificates of deposit, consumer and residential mortgages, commercial and real estate lending, agricultural loans, cash-management services and online and mobile banking.

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