Glacier Bancorp, Inc. $GBCI Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Glacier Bancorp by 4.8% in Q1, now holding 2.14% of the company worth approximately $107 million.
• Glacier Bancorp recently missed EPS estimates, reporting $0.45 compared to the expected $0.49, but it also announced a quarterly dividend of $0.33 per share, yielding 2.7% annually.
• Analysts have varying views on Glacier Bancorp; the stock has a consensus rating of "Moderate Buy" with price targets ranging from $48 to $52 set by different analysts.

Dimensional Fund Advisors LP reduced its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,427,206 shares of the bank's stock after selling 122,955 shares during the period. Dimensional Fund Advisors LP owned approximately 2.14% of Glacier Bancorp worth $107,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. HighTower Advisors LLC raised its holdings in Glacier Bancorp by 3.7% in the 1st quarter. HighTower Advisors LLC now owns 14,841 shares of the bank's stock valued at $656,000 after buying an additional 534 shares during the period. Nuveen LLC purchased a new stake in Glacier Bancorp in the 1st quarter valued at about $21,220,000. Aigen Investment Management LP purchased a new stake in Glacier Bancorp in the 1st quarter valued at about $552,000. Entropy Technologies LP purchased a new stake in Glacier Bancorp in the 1st quarter valued at about $729,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Glacier Bancorp in the 1st quarter valued at about $273,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Up 0.5%

Shares of Glacier Bancorp stock traded up $0.24 on Thursday, reaching $48.79. 672,952 shares of the company were exchanged, compared to its average volume of 710,691. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67. The company has a market cap of $5.78 billion, a P/E ratio of 29.21 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The stock's 50 day moving average price is $45.32 and its 200-day moving average price is $43.98.

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 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 period last year, the company earned $0.39 EPS. As a group, equities analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GBCI shares. DA Davidson restated a "buy" rating and issued a $50.00 price objective on shares of Glacier Bancorp in a report on Wednesday, June 25th. Janney Montgomery Scott upgraded shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price objective on the stock in a report on Thursday, June 5th. Raymond James Financial reiterated an "outperform" rating and set a $48.00 price target (up from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Piper Sandler boosted their price target 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. Finally, Keefe, Bruyette & Woods boosted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $50.50.

Insider Transactions at Glacier Bancorp

In related news, insider Lee Kenneth Groom sold 800 shares of the company'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 value of $35,392.00. Following the completion of the transaction, the insider directly owned 11,918 shares of the company's stock, valued at $527,252.32. This represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by company insiders.

Glacier Bancorp Company 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.