Pacer Advisors Inc. Lowers Position in 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 shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 72.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,230 shares of the bank's stock after selling 16,089 shares during the period. Pacer Advisors Inc.'s holdings in Glacier Bancorp were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Glacier Bancorp during the fourth quarter valued at approximately $56,923,000. Millennium Management LLC raised its holdings in shares of Glacier Bancorp by 4,600.1% during the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank's stock worth $47,010,000 after acquiring an additional 916,163 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Glacier Bancorp by 76.0% during the fourth quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock worth $28,192,000 after acquiring an additional 242,414 shares during the period. Peregrine Capital Management LLC acquired a new stake in shares of Glacier Bancorp during the first quarter worth $7,754,000. Finally, GAMMA Investing LLC increased its stake in Glacier Bancorp by 4,580.7% in the 1st quarter. GAMMA Investing LLC now owns 142,388 shares of the bank's stock valued at $6,296,000 after buying an additional 139,346 shares during the last quarter. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Trading Down 0.8%

Shares of GBCI traded down $0.35 during mid-day trading on Wednesday, reaching $43.97. The company's stock had a trading volume of 252,159 shares, compared to its average volume of 702,700. The company's fifty day moving average price is $43.76 and its two-hundred day moving average price is $44.42. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $60.67. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market cap of $4.99 billion, a PE ratio of 26.31 and a beta of 0.79.

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

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a yield of 3.0%. Glacier Bancorp's dividend payout ratio (DPR) is presently 68.75%.

Insider Buying and Selling

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $44.24, for a total transaction of $35,392.00. Following the sale, the insider owned 11,918 shares in the company, valued at approximately $527,252.32. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company's stock.

Analyst Ratings Changes

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

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.