Campbell & CO Investment Adviser LLC Boosts Stake in Glacier Bancorp, Inc. $GBCI

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Glacier Bancorp by 726.7% in Q1, now holding 67,233 shares worth approximately $2.97 million.
• Glacier Bancorp announced a quarterly dividend of $0.33 per share, with an annualized dividend yield of 2.7% as of the last payment on July 17th.
• The stock price of Glacier Bancorp rose by 6.6%, with a current market cap of $5.75 billion and a P/E ratio of 29.03.

Campbell & CO Investment Adviser LLC increased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 726.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,233 shares of the bank's stock after acquiring an additional 59,100 shares during the period. Campbell & CO Investment Adviser LLC owned about 0.06% of Glacier Bancorp worth $2,973,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Jump Financial LLC bought a new stake in shares of Glacier Bancorp in the first quarter worth $203,000. AlphaQuest LLC bought a new stake in shares of Glacier Bancorp in the first quarter worth $121,000. Quantbot Technologies LP bought a new stake in shares of Glacier Bancorp in the first quarter worth $507,000. Raymond James Financial Inc. grew its holdings in shares of Glacier Bancorp by 3.0% in the first quarter. Raymond James Financial Inc. now owns 195,806 shares of the bank's stock worth $8,659,000 after acquiring an additional 5,765 shares during the period. Finally, HighTower Advisors LLC lifted its position in Glacier Bancorp by 3.7% during the first quarter. HighTower Advisors LLC now owns 14,841 shares of the bank's stock valued at $656,000 after purchasing an additional 534 shares in the last quarter. Institutional investors own 80.17% of the company's stock.

Glacier Bancorp Price Performance

Shares of Glacier Bancorp stock traded up $0.57 during trading hours on Friday, hitting $49.36. The company's stock had a trading volume of 317,842 shares, compared to its average volume of 708,140. The business has a 50 day moving average price of $45.32 and a two-hundred day moving average price of $43.98. Glacier Bancorp, Inc. has a 12-month low of $36.76 and a 12-month high of $60.67. The company has a market cap of $5.85 billion, a PE ratio of 29.54 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings data 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 previous year, the company earned $0.39 earnings per share. Analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp's payout ratio is presently 68.75%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Janney Montgomery Scott upgraded Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price on the stock in a research report on Thursday, June 5th. DA Davidson reiterated a "buy" rating and set a $50.00 target price on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Keefe, Bruyette & Woods lifted their target price on Glacier Bancorp from $52.00 to $55.00 and gave the company a "market perform" rating in a research report on Thursday. Piper Sandler lifted 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. Finally, Raymond James Financial reiterated 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.50.

Insider Activity at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $44.24, for a total value of $35,392.00. Following the transaction, the insider directly owned 11,918 shares in the company, valued at $527,252.32. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by insiders.

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.