12,482 Shares in Glacier Bancorp, Inc. (NASDAQ:GBCI) Acquired by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has purchased a new stake in Glacier Bancorp, acquiring 12,482 shares valued at approximately $552,000 in the first quarter.
• Other large investors, including Capital International Investors and Victory Capital Management, also increased their holdings in Glacier Bancorp during the recent quarters, contributing to the institutional ownership rising to 80.17%.
• Glacier Bancorp recently announced a quarterly dividend of $0.33, with a dividend yield of 2.9%, while the company reported earnings per share of $0.45, missing expectations.

Aigen Investment Management LP bought a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,482 shares of the bank's stock, valued at approximately $552,000.

Other large investors also recently modified their holdings of the company. First Interstate Bank bought a new stake in shares of Glacier Bancorp during the 1st quarter worth $593,000. Bessemer Group Inc. lifted its position in shares of Glacier Bancorp by 1,839.2% during the 1st quarter. Bessemer Group Inc. now owns 9,599 shares of the bank's stock worth $424,000 after buying an additional 9,104 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Glacier Bancorp by 4,580.7% during the 1st quarter. GAMMA Investing LLC now owns 142,388 shares of the bank's stock worth $6,296,000 after buying an additional 139,346 shares during the last quarter. Empower Advisory Group LLC bought a new stake in shares of Glacier Bancorp during the 1st quarter worth $864,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Glacier Bancorp by 3.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 189,263 shares of the bank's stock worth $8,369,000 after buying an additional 6,806 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Lee Kenneth Groom sold 800 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $44.24, for a total transaction of $35,392.00. Following the completion of the sale, the insider owned 11,918 shares of the company's stock, valued at $527,252.32. This trade represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Raymond James Financial reiterated an "outperform" rating and issued a $48.00 target price (up from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Piper Sandler increased their target price on Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods increased their target price on Glacier Bancorp from $50.00 to $52.00 and gave the company a "market perform" rating in a research report on Friday, June 27th. DA Davidson reiterated a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Finally, Janney Montgomery Scott upgraded Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price for the company in a research report on Thursday, June 5th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Glacier Bancorp Trading Down 1.8%

GBCI stock traded down $0.84 during trading on Friday, hitting $45.32. The company had a trading volume of 571,366 shares, compared to its average volume of 702,137. The business has a 50-day moving average of $44.29 and a 200-day moving average of $44.13. Glacier Bancorp, Inc. has a one year low of $36.76 and a one year high of $60.67. The stock has a market cap of $5.37 billion, a PE ratio of 27.14 and a beta of 0.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the prior year, the firm earned $0.39 earnings per share. Research analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Tuesday, July 8th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.32 annualized dividend and a yield of 2.9%. 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.