Intech Investment Management LLC Has $3.40 Million Position in Glacier Bancorp, Inc. $GBCI

Key Points

• Intech Investment Management LLC increased its stake in Glacier Bancorp by 32.5%, holding 76,865 shares valued at approximately $3.4 million as of the most recent SEC filing.
• Wall Street analysts have updated their ratings and price targets for Glacier Bancorp, with a consensus target price of $50.50 and multiple analysts recommending a "buy" rating.
• Glacier Bancorp announced a quarterly dividend of $0.33 per share, yielding 2.7%, with a payout ratio of 68.75%.

Intech Investment Management LLC increased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 32.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,865 shares of the bank's stock after buying an additional 18,874 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Glacier Bancorp worth $3,399,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in shares of Glacier Bancorp by 57.8% during the fourth quarter. Ameriprise Financial Inc. now owns 287,123 shares of the bank's stock valued at $14,419,000 after purchasing an additional 105,153 shares during the last quarter. 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. 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. 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Glacier Bancorp by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,875 shares of the bank's stock valued at $3,258,000 after buying an additional 2,507 shares during the period. Institutional investors and hedge funds own 80.17% of the company's stock.

Insider Activity at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of the business'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 sale, the insider directly owned 11,918 shares in the company, valued at $527,252.32. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by company insiders.

Glacier Bancorp Stock Performance

Shares of GBCI stock traded up $1.93 during mid-day trading on Thursday, reaching $50.14. The stock had a trading volume of 743,011 shares, compared to its average volume of 699,921. The firm's 50 day simple moving average is $46.64 and its 200 day simple moving average is $43.95. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a one year low of $36.76 and a one year high of $60.67. The firm has a market cap of $5.94 billion, a PE ratio of 30.03 and a beta of 0.82.

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 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 prior year, the company posted $0.39 earnings per share. On average, analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 8th. This represents a $1.32 annualized dividend and a yield of 2.6%. Glacier Bancorp's payout ratio is currently 68.75%.

Analysts Set New Price Targets

Several research firms recently weighed in on GBCI. Keefe, Bruyette & Woods upped their price target on Glacier Bancorp from $52.00 to $55.00 and gave the company a "market perform" rating in a research report on Thursday, August 28th. Raymond James Financial reaffirmed an "outperform" rating and issued a $48.00 target price (up from $45.00) on shares of Glacier Bancorp in a research 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 on the stock in a research report on Thursday, June 5th. DA Davidson reaffirmed a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Finally, Piper Sandler upped their target price on Glacier Bancorp from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.50.

Glacier Bancorp Company 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.