Hilltop National Bank Makes New Investment in Glacier Bancorp, Inc. $GBCI

Key Points

• Hilltop National Bank made a new investment in Glacier Bancorp, acquiring 6,627 shares valued at approximately $285,000 in the second quarter of the year.
• Glacier Bancorp recently reported $0.45 earnings per share for the last quarter, missing analysts' expectations by $0.04, although they showed improvement from the previous year's $0.39 EPS.
• The company announced a $0.33 quarterly dividend, expected to be paid on October 16th, providing an annualized yield of 2.7% based on the current payout ratio of 68.75%.

Hilltop National Bank bought a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,627 shares of the bank's stock, valued at approximately $285,000.

Other hedge funds also recently bought and sold shares of the company. eCIO Inc. purchased a new stake in Glacier Bancorp during the first quarter worth $33,000. JNBA Financial Advisors purchased a new stake in Glacier Bancorp during the first quarter worth $35,000. UMB Bank n.a. lifted its holdings 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 buying an additional 448 shares during the period. Farther Finance Advisors LLC lifted its holdings 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 buying an additional 1,001 shares during the period. Finally, AlphaQuest LLC purchased a new stake in Glacier Bancorp during the first quarter worth $121,000. Hedge funds and other institutional investors own 80.17% of the company's stock.

Insider Transactions at Glacier Bancorp

In related news, insider Lee Kenneth Groom sold 800 shares of the firm'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 completion of the transaction, the insider owned 11,918 shares in the company, valued at $527,252.32. This trade represents a 6.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by company insiders.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $48.27 on Friday. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 28.90 and a beta of 0.82. 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 business has a fifty day moving average of $47.39 and a 200 day moving average of $44.24. Glacier Bancorp, Inc. has a 1 year low of $36.76 and a 1 year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share (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 in the previous year, the business posted $0.39 earnings per share. As a group, research analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, October 7th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. Glacier Bancorp's dividend payout ratio (DPR) is 68.75%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GBCI shares. Keefe, Bruyette & Woods increased their price objective on Glacier Bancorp from $52.00 to $55.00 and gave the company a "market perform" rating in a report on Thursday, August 28th. DA Davidson reiterated a "buy" rating and set a $50.00 price objective on shares of Glacier Bancorp in a report on Wednesday, June 25th. Raymond James Financial reiterated an "outperform" rating and set a $48.00 price objective (up previously from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. Finally, Piper Sandler increased their price objective on Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Glacier Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $50.50.

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.

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