361,699 Shares in Glacier Bancorp, Inc. $GBCI Purchased by Heartland Advisors Inc.

Key Points

• Heartland Advisors acquired 361,699 shares of Glacier Bancorp during the second quarter, valued at approximately $18.7 million and representing a 0.28% stake. Institutional investors collectively own 80.17% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $55.17. Recent target increases include Piper Sandler at $60 and Stephens at $54.
• Glacier Bancorp reported quarterly EPS of $0.76, in line with estimates, on revenue of $320.94 million. The company also pays a quarterly dividend of $0.33 per share, equivalent to a 2.8% annual yield.

Heartland Advisors Inc. purchased a new stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 361,699 shares of the company's stock, valued at approximately $18,656,000. Heartland Advisors Inc. owned 0.28% of Glacier Bancorp as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GBCI. Root Financial Partners LLC increased its position in shares of Glacier Bancorp by 122.5% during the first quarter. Root Financial Partners LLC now owns 652 shares of the company's stock valued at $29,000 after purchasing an additional 359 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in Glacier Bancorp in the fourth quarter worth $31,000. EverSource Wealth Advisors LLC boosted its stake in Glacier Bancorp by 218.8% during the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company's stock worth $31,000 after buying an additional 490 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Glacier Bancorp by 41.2% during the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the company's stock worth $34,000 after buying an additional 223 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Glacier Bancorp in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GBCI. Piper Sandler increased their price objective on shares of Glacier Bancorp from $59.00 to $60.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. Stephens lifted their target price on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research report on Wednesday, April 29th. DA Davidson reissued 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 raised shares of Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Five 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. According to data from MarketBeat.com, Glacier Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $55.17.

Glacier Bancorp Price Performance

Shares of GBCI stock opened at $47.25 on Friday. The stock's fifty day simple moving average is $50.31 and its 200 day simple moving average is $48.48. Glacier Bancorp, Inc. has a one year low of $39.90 and a one year high of $54.58. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 19.36 and a beta of 0.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.76. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.The company had revenue of $320.94 million during the quarter. During the same period in the previous year, the business posted $0.57 earnings per share. On average, analysts expect that Glacier Bancorp, Inc. will post 3.11 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. Glacier Bancorp's dividend payout ratio (DPR) is 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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