Pacer Advisors Inc. Sells 16,089 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Glacier Bancorp by 72.1% during Q1, selling 16,089 shares, now holding 6,230 shares valued at $275,000.
• Glacier Bancorp reported a Q2 EPS of $0.45, missing analyst estimates by $0.04, with expectations for a total EPS of 2.45 for the fiscal year.
• The company declared a quarterly dividend of $0.33 per share, translating to an annualized yield of 3.1% and a payout ratio of 68.75%.

Pacer Advisors Inc. trimmed its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 72.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,230 shares of the bank's stock after selling 16,089 shares during the quarter. Pacer Advisors Inc.'s holdings in Glacier Bancorp were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new position in shares of Glacier Bancorp during the 4th quarter worth approximately $33,000. JNBA Financial Advisors purchased a new stake in Glacier Bancorp in the first quarter worth $35,000. UMB Bank n.a. grew its stake in Glacier Bancorp by 114.9% in 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 period. Farther Finance Advisors LLC grew its position in shares of Glacier Bancorp by 252.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank's stock worth $62,000 after buying an additional 1,001 shares during the period. Finally, Bridge Generations Wealth Management LLC purchased a new stake in Glacier Bancorp in the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 80.17% of the company's stock.

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 shares were sold at an average price of $44.24, for a total value of $35,392.00. Following the sale, the insider owned 11,918 shares in the company, valued at $527,252.32. The trade was a 6.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company's stock.

Glacier Bancorp Price Performance

Shares of GBCI traded up $0.87 during trading hours on Monday, reaching $43.73. 624,830 shares of the stock traded hands, compared to its average volume of 704,791. 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 52-week low of $36.76 and a 52-week high of $60.67. The company's 50-day moving average price is $43.65 and its two-hundred day moving average price is $44.48. The company has a market cap of $4.96 billion, a P/E ratio of 26.19 and a beta of 0.79.

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. On average, analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Tuesday, July 8th were issued 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GBCI shares. Keefe, Bruyette & Woods increased their target price 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. DA Davidson reissued a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Raymond James Financial reiterated an "outperform" rating and set a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.00.

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.