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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GBCI. Wood Tarver Financial Group LLC acquired a new position in Glacier Bancorp during the 4th quarter valued at about $33,000. JNBA Financial Advisors acquired a new position in Glacier Bancorp during the 1st quarter valued at about $35,000. UMB Bank n.a. boosted its stake in Glacier Bancorp by 114.9% during the 1st quarter. UMB Bank n.a. now owns 838 shares of the bank's stock valued at $37,000 after purchasing an additional 448 shares during the period. Farther Finance Advisors LLC raised its position in shares of Glacier Bancorp by 252.1% during 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 in the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Glacier Bancorp during the 1st quarter worth about $121,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Trading Down 1.0%

Shares of GBCI stock traded down $0.49 during trading hours on Tuesday, reaching $47.65. 513,776 shares of the stock traded hands, compared to its average volume of 699,395. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67. The business has a fifty day moving average price of $46.50 and a 200 day moving average price of $43.88. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $5.65 billion, a PE ratio of 28.53 and a beta of 0.82.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its quarterly 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 net margin of 14.99% and a return on equity of 5.98%. During the same quarter last year, the business posted $0.39 EPS. On average, equities research analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Tuesday, July 8th were given a dividend of $0.33 per share. 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 2.8%. Glacier Bancorp's payout ratio is presently 68.75%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. DA Davidson restated a "buy" rating and set a $50.00 price target on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Raymond James Financial restated an "outperform" rating and set a $48.00 price target (up from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Piper Sandler boosted their target price on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Janney Montgomery Scott upgraded shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price on the stock in a report on Thursday, June 5th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Glacier Bancorp from $52.00 to $55.00 and gave the stock a "market perform" rating in a report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.50.

Insider Buying and Selling

In related news, insider Lee Kenneth Groom sold 800 shares of the business'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 transaction, the insider directly owned 11,918 shares of the company's stock, valued at approximately $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 accessible through the SEC website. Insiders own 0.53% of the company's stock.

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.