LPL Financial LLC Sells 17,993 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Key Points

• LPL Financial LLC reduced its holdings in Glacier Bancorp by 16.2%, selling 17,993 shares during the first quarter, leaving it with 93,052 shares valued at approximately $4.12 million.
• Glacier Bancorp reported $0.45 in earnings per share for the last quarter, which was below analysts' expectations of $0.49.
• The company recently declared a quarterly dividend of $0.33 per share, offering an annualized yield of 2.9% with a payout ratio of 68.75%.

LPL Financial LLC cut its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 16.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,052 shares of the bank's stock after selling 17,993 shares during the period. LPL Financial LLC owned about 0.08% of Glacier Bancorp worth $4,115,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GBCI. Wood Tarver Financial Group LLC bought a new stake in shares of Glacier Bancorp in the 4th quarter worth about $33,000. JNBA Financial Advisors bought a new stake in shares of Glacier Bancorp in the 1st quarter worth about $35,000. UMB Bank n.a. lifted its holdings in shares of Glacier Bancorp by 114.9% in the 1st quarter. UMB Bank n.a. now owns 838 shares of the bank's stock worth $37,000 after acquiring an additional 448 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Glacier Bancorp by 252.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank's stock worth $62,000 after acquiring an additional 1,001 shares during the last quarter. Finally, Bridge Generations Wealth Management LLC bought a new stake in shares of Glacier Bancorp in the 4th quarter worth about $70,000. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Trading Down 1.4%

Shares of GBCI opened at $46.18 on Friday. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67. The company has a 50-day moving average of $44.23 and a 200 day moving average of $44.16. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 27.66 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 earnings per share 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 in the prior year, the business posted $0.39 EPS. On average, research analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors 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 dividend on an annualized basis and a yield of 2.9%. Glacier Bancorp's dividend payout ratio (DPR) is presently 68.75%.

Analysts Set New Price Targets

GBCI has been the subject of several analyst reports. Piper Sandler raised 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. DA Davidson restated a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday, June 25th. Keefe, Bruyette & Woods raised their target price on shares of Glacier Bancorp from $50.00 to $52.00 and gave the stock a "market perform" rating in a report on Friday, June 27th. Janney Montgomery Scott upgraded shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price for the company in a report on Thursday, June 5th. Finally, Raymond James Financial restated an "outperform" rating and issued a $48.00 target price (up previously from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Insiders Place Their Bets

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the firm's stock in a transaction dated 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 owned 11,918 shares of the company's stock, valued at approximately $527,252.32. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.