76,355 Shares in Glacier Bancorp, Inc. $GBCI Bought by Onyx Financial Advisors LLC

Key Points

• Onyx Financial Advisors LLC acquired 76,355 shares of Glacier Bancorp, valued at approximately $3.29 million, making it the 7th largest position in their portfolio.
• Insider Lee Kenneth Groom sold 800 shares at an average price of $44.24, reducing his stake by 6.29% and leaving him with about 11,918 shares valued at approximately $527,252.32.
• Glacier Bancorp announced a quarterly dividend of $0.33 per share, representing a 2.7% dividend yield, with the ex-dividend date set for October 7th.

Onyx Financial Advisors LLC acquired a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 76,355 shares of the bank's stock, valued at approximately $3,289,000. Glacier Bancorp comprises about 1.6% of Onyx Financial Advisors LLC's investment portfolio, making the stock its 7th biggest position. Onyx Financial Advisors LLC owned approximately 0.07% of Glacier Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GBCI. Nuveen LLC acquired a new position in Glacier Bancorp in the first quarter valued at $21,220,000. Jane Street Group LLC increased its position in shares of Glacier Bancorp by 464.3% during the first quarter. Jane Street Group LLC now owns 287,773 shares of the bank's stock worth $12,725,000 after acquiring an additional 236,781 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in Glacier Bancorp in the 1st quarter worth about $7,754,000. GAMMA Investing LLC grew its position in Glacier Bancorp by 4,580.7% in the 1st quarter. GAMMA Investing LLC now owns 142,388 shares of the bank's stock worth $6,296,000 after purchasing an additional 139,346 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Glacier Bancorp by 9.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank's stock worth $60,198,000 after purchasing an additional 113,544 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company's stock.

Insider Activity at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $44.24, for a total value of $35,392.00. Following the completion of the sale, the insider directly owned 11,918 shares of the company's stock, valued at approximately $527,252.32. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

GBCI has been the subject of a number of research reports. Raymond James Financial reissued an "outperform" rating and set a $48.00 target price (up from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. DA Davidson restated a "buy" rating and set a $50.00 price target on shares of Glacier Bancorp in a research note on Wednesday, June 25th. Keefe, Bruyette & Woods increased their target price on shares of Glacier Bancorp from $52.00 to $55.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. Finally, Piper Sandler increased their target price on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.50.

Glacier Bancorp Price Performance

Shares of Glacier Bancorp stock opened at $48.27 on Friday. The firm has a market cap of $5.72 billion, a PE ratio of 28.90 and a beta of 0.82. Glacier Bancorp, Inc. has a 12-month low of $36.76 and a 12-month high of $60.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The company's fifty day simple moving average is $47.39 and its two-hundred day simple moving average is $44.24.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business posted $0.39 earnings per share. As a group, equities analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, October 7th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, October 7th. Glacier Bancorp's dividend payout ratio (DPR) is currently 68.75%.

Glacier Bancorp Profile

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.

Want to see what other hedge funds are holding GBCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report).

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.