Lone Peak Global Investors LLC Sells 123,045 Shares of Glacier Bancorp, Inc. $GBCI

Key Points

• Lone Peak Global Investors cut its Glacier Bancorp stake by 27.3%, selling 123,045 shares and retaining 327,403 shares valued at approximately $16.9 million. Institutional investors collectively own 80.17% of GBCI.
• Analyst sentiment remains favorable, with five Buy ratings, two Holds, and one Sell; the stock has a consensus “Moderate Buy” rating and an average price target of $55.17.
• GBCI opened at $45.33 after a 2.1% decline, while its latest quarterly EPS of $0.76 matched expectations. The company pays a quarterly dividend of $0.33, representing a 2.9% annualized yield.

Lone Peak Global Investors LLC trimmed its holdings in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 27.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 327,403 shares of the company's stock after selling 123,045 shares during the period. Glacier Bancorp comprises approximately 2.3% of Lone Peak Global Investors LLC's portfolio, making the stock its 26th largest position. Lone Peak Global Investors LLC owned about 0.25% of Glacier Bancorp worth $16,887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GBCI. Root Financial Partners LLC lifted its stake in shares of Glacier Bancorp by 122.5% in the 1st quarter. Root Financial Partners LLC now owns 652 shares of the company's stock valued at $29,000 after acquiring an additional 359 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Glacier Bancorp during the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its stake in Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company's stock worth $31,000 after purchasing an additional 490 shares during the period. Global Retirement Partners LLC increased its stake in Glacier Bancorp by 41.2% in the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company's stock worth $34,000 after purchasing an additional 223 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Glacier Bancorp in the 4th quarter worth approximately $35,000. 80.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

GBCI has been the subject of a number of analyst reports. DA Davidson reissued a "buy" rating and set a $58.00 price objective on shares of Glacier Bancorp in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Glacier Bancorp currently has an average rating of "Moderate Buy" and an average price target of $55.17.

Glacier Bancorp Stock Down 2.1%

NYSE GBCI opened at $45.33 on Wednesday. Glacier Bancorp, Inc. has a 1 year low of $39.90 and a 1 year high of $54.58. The stock has a market capitalization of $5.90 billion, a PE ratio of 18.58 and a beta of 0.72. 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 business's 50-day moving average is $50.01 and its 200 day moving average is $48.18.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, meeting 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 period in the previous year, the company earned $0.57 EPS. Sell-side analysts forecast that Glacier Bancorp, Inc. will post 3.11 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. Glacier Bancorp's dividend payout ratio (DPR) is presently 54.10%.

Insider Buying and Selling

In related news, Chairman Craig A. Langel purchased 2,250 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average price of $47.04 per share, for a total transaction of $105,840.00. Following the completion of the acquisition, the chairman directly owned 98,684 shares in the company, valued at approximately $4,642,095.36. The trade was a 2.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by insiders.

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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