Idaho Trust Co Buys Shares of 277,940 Glacier Bancorp, Inc. $GBCI

Key Points

• Idaho Trust Co acquired 277,940 shares of Glacier Bancorp worth approximately $14.3 million, making GBCI its seventh-largest portfolio holding and representing about 0.21% of the company.
• Institutional ownership remains high at 80.17%, with major investors including Norges Bank, Bank of New York Mellon, Vanguard, and Bank of America increasing or initiating positions.
• Analysts give Glacier Bancorp a “Moderate Buy” consensus with an average price target of $55.17. The company recently reported quarterly EPS of $0.76 and maintains a quarterly dividend of $0.33, yielding about 2.6% annually.

Idaho Trust Co purchased a new stake in Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 277,940 shares of the company's stock, valued at approximately $14,336,000. Glacier Bancorp accounts for 4.2% of Idaho Trust Co's investment portfolio, making the stock its 7th biggest position. Idaho Trust Co owned about 0.21% of Glacier Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in Glacier Bancorp in the fourth quarter valued at about $67,582,000. Bank of New York Mellon Corp acquired a new stake in shares of Glacier Bancorp in the 2nd quarter valued at approximately $55,775,000. Vanguard Group Inc. raised its position in shares of Glacier Bancorp by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company's stock valued at $588,471,000 after acquiring an additional 870,335 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Glacier Bancorp in the 1st quarter valued at approximately $33,197,000. Finally, Bank of America Corp DE boosted its stake in Glacier Bancorp by 82.1% during the 1st quarter. Bank of America Corp DE now owns 1,281,285 shares of the company's stock worth $57,235,000 after acquiring an additional 577,654 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on GBCI. Stephens upped their target price on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. DA Davidson reissued a "buy" rating and set a $58.00 price target on shares of Glacier Bancorp in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Finally, Piper Sandler raised their price objective on Glacier Bancorp from $59.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Glacier Bancorp has an average rating of "Moderate Buy" and an average price target of $55.17.

Glacier Bancorp Stock Down 0.0%

GBCI stock opened at $49.93 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $6.50 billion, a P/E ratio of 20.46 and a beta of 0.74. The business has a 50-day moving average of $50.32 and a 200-day moving average of $48.52. Glacier Bancorp, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $54.58.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.76. The business had revenue of $320.94 million during the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same quarter in the previous year, the business posted $0.57 earnings per share. On average, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 3.11 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 16th. Stockholders of record on Tuesday, July 7th were issued a $0.33 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.6%. Glacier Bancorp's dividend payout ratio (DPR) is 54.10%.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.

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