19,530 Shares in Glacier Bancorp, Inc. (NASDAQ:GBCI) Purchased by Empower Advisory Group LLC

Key Points

• Empower Advisory Group LLC acquired 19,530 shares of Glacier Bancorp, Inc. (NASDAQ:GBCI), valued at approximately $864,000, during the first quarter.
• Several hedge funds increased their stakes in Glacier Bancorp, with 80.17% of the stock now owned by institutional investors, highlighting growing interest in the bank.
• The bank declared a quarterly dividend of $0.33 per share with an annual yield of 3.0%, reflecting its ongoing commitment to shareholder returns.

Empower Advisory Group LLC acquired a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,530 shares of the bank's stock, valued at approximately $864,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wood Tarver Financial Group LLC acquired a new stake in Glacier Bancorp during the 4th quarter worth approximately $33,000. JNBA Financial Advisors purchased a new position in shares of Glacier Bancorp during the 1st quarter valued at approximately $35,000. UMB Bank n.a. lifted its stake in Glacier Bancorp by 114.9% during the first quarter. UMB Bank n.a. now owns 838 shares of the bank's stock worth $37,000 after purchasing an additional 448 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Glacier Bancorp by 252.1% during the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank's stock worth $62,000 after purchasing an additional 1,001 shares during the last quarter. Finally, Bridge Generations Wealth Management LLC bought a new position in Glacier Bancorp during the fourth quarter worth $70,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Analyst Ratings Changes

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

Glacier Bancorp Stock Performance

NASDAQ GBCI traded down $0.17 during trading on Monday, hitting $43.69. The company's stock had a trading volume of 51,352 shares, compared to its average volume of 698,112. 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 firm has a 50 day moving average price of $43.89 and a 200 day moving average price of $44.21. The firm has a market cap of $5.18 billion, a P/E ratio of 26.18 and a beta of 0.79. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly 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 return on equity of 5.98% and a net margin of 14.99%. During the same period in the prior year, the company earned $0.39 earnings per share. Equities research analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a yield of 3.0%. Glacier Bancorp's payout ratio is currently 68.75%.

Insider Buying and Selling

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the business's stock in a transaction 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 transaction, the insider owned 11,918 shares of the company's stock, valued at approximately $527,252.32. The trade was a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company's stock.

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.