83,739 Shares in Glacier Bancorp, Inc. $GBCI Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 83,739 shares of Glacier Bancorp during the second quarter, valued at approximately $4.32 million. Institutional investors and hedge funds 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; DA Davidson set a $58 target and reaffirmed its Buy rating.
• Glacier Bancorp reported quarterly EPS of $0.76 on $320.94 million in revenue, while maintaining a quarterly dividend of $0.33 per share, equivalent to a 2.9% annualized yield.

Corient Private Wealth LP purchased a new stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 83,739 shares of the company's stock, valued at approximately $4,319,000. Corient Private Wealth LP owned 0.06% of Glacier Bancorp as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Root Financial Partners LLC grew its position 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 valued at $29,000 after acquiring an additional 359 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in Glacier Bancorp in the 4th quarter worth about $31,000. EverSource Wealth Advisors LLC boosted its position 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 purchasing an additional 490 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Glacier Bancorp by 41.2% in the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the company's stock valued at $34,000 after purchasing an additional 223 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Glacier Bancorp in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GBCI. DA Davidson reaffirmed 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 raised shares of Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.17.

Glacier Bancorp Price Performance

Glacier Bancorp stock opened at $46.30 on Tuesday. Glacier Bancorp, Inc. has a 52-week low of $39.90 and a 52-week high of $54.58. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 18.98 and a beta of 0.74. The company has a fifty day simple moving average of $50.10 and a 200-day simple moving average of $48.23. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06.

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

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp's dividend payout ratio (DPR) is 54.10%.

Insiders Place Their Bets

In related news, Chairman Craig A. Langel bought 2,250 shares of the stock in a transaction dated Friday, August 28th. The shares were acquired at an average cost of $47.04 per share, for a total transaction of $105,840.00. Following the acquisition, the chairman directly owned 98,684 shares in the company, valued at approximately $4,642,095.36. This trade represents a 2.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by company insiders.

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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