Royal Bank of Canada Has $16.94 Million Stake in Glacier Bancorp, Inc. $GBCI

Key Points

• Royal Bank of Canada increased its stake in Glacier Bancorp by 6.8%, owning approximately $16.9 million worth of shares, as institutional investors hold 80.17% of the company's stock.
• Glacier Bancorp reported $0.45 EPS for the last quarter, missing estimates, while the company recently declared a quarterly dividend of $0.33, resulting in a 2.7% dividend yield.
• Analysts have upgraded Glacier Bancorp's stock ratings, with a consensus price target of $50.50 and multiple firms issuing buy ratings based on its recent performance.

Royal Bank of Canada lifted its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 383,150 shares of the bank's stock after purchasing an additional 24,398 shares during the quarter. Royal Bank of Canada owned 0.34% of Glacier Bancorp worth $16,942,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of GBCI. Ameriprise Financial Inc. lifted its holdings in shares of Glacier Bancorp by 57.8% in the fourth quarter. Ameriprise Financial Inc. now owns 287,123 shares of the bank's stock valued at $14,419,000 after buying an additional 105,153 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of Glacier Bancorp by 323.2% during the fourth quarter. Baird Financial Group Inc. now owns 5,205 shares of the bank's stock valued at $261,000 after purchasing an additional 3,975 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Glacier Bancorp by 21.1% during the fourth quarter. Captrust Financial Advisors now owns 30,762 shares of the bank's stock valued at $1,545,000 after purchasing an additional 5,369 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Glacier Bancorp by 49.3% during the fourth quarter. Deutsche Bank AG now owns 98,924 shares of the bank's stock valued at $4,968,000 after purchasing an additional 32,678 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Glacier Bancorp by 7.0% during the fourth quarter. Janus Henderson Group PLC now owns 53,177 shares of the bank's stock valued at $2,672,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors own 80.17% of the company's stock.

Glacier Bancorp Stock Up 0.0%

GBCI stock traded up $0.01 during mid-day trading on Friday, hitting $48.95. The stock had a trading volume of 437,239 shares, compared to its average volume of 701,701. 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, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67. The company has a fifty day moving average of $46.45 and a 200 day moving average of $43.95. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 29.31 and a beta of 0.82.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share 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 last year, the business earned $0.39 earnings per share. On average, equities analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler upped their target price on Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Raymond James Financial reaffirmed an "outperform" rating and set a $48.00 target price (up from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price for the company in a report on Thursday, June 5th. Keefe, Bruyette & Woods upped their target price on Glacier Bancorp from $52.00 to $55.00 and gave the company a "market perform" rating in a report on Thursday, August 28th. Finally, DA Davidson reaffirmed a "buy" rating and set a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday, June 25th. One investment 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.50.

Insiders Place Their Bets

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the company'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 of the company's stock, valued at $527,252.32. This represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

About Glacier Bancorp

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.