Natixis Advisors LLC Purchases 33,336 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Key Points

• Natixis Advisors LLC increased its stake in Glacier Bancorp by 9.1%, acquiring an additional 33,336 shares, bringing its total to approximately 400,520 shares worth $17,711,000.
• During the last quarter, significant institutional investment activities included Millennium Management LLC boosting its position by 4,600.1%, and JPMorgan Chase & Co. increasing its stake by 76.0%.
• Glacier Bancorp reported an EPS of $0.45 for the last quarter, missing the consensus estimate by $0.04, and announced a quarterly dividend of $0.33 per share, resulting in an annualized yield of 3.1%.

Natixis Advisors LLC raised its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 9.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,520 shares of the bank's stock after acquiring an additional 33,336 shares during the period. Natixis Advisors LLC owned approximately 0.35% of Glacier Bancorp worth $17,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wood Tarver Financial Group LLC purchased a new stake in shares of Glacier Bancorp in the 4th quarter valued at approximately $33,000. JNBA Financial Advisors acquired a new position in Glacier Bancorp during the first quarter worth $35,000. UMB Bank n.a. lifted its holdings in 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 purchasing an additional 448 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in 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 period. Finally, Bridge Generations Wealth Management LLC bought a new position in Glacier Bancorp in the 4th quarter worth approximately $70,000. 80.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 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 of the company's stock, valued at approximately $527,252.32. This trade represents a 6.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GBCI. Raymond James Financial reaffirmed 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. DA Davidson reissued a "buy" rating and set a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday, June 25th. Keefe, Bruyette & Woods lifted their price objective on Glacier Bancorp from $50.00 to $52.00 and gave the company a "market perform" rating in a report on Friday, June 27th. Piper Sandler lifted their target price on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price objective on the stock in a research note on Thursday, June 5th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Glacier Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $50.00.

Glacier Bancorp Stock Performance

GBCI traded down $0.37 during trading on Thursday, reaching $43.58. 488,763 shares of the company's stock were exchanged, compared to its average volume of 702,124. The company's fifty day simple moving average is $43.81 and its 200-day simple moving average is $44.42. The stock has a market capitalization of $5.17 billion, a P/E ratio of 26.09 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, Inc. has a 1 year low of $36.76 and a 1 year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing the consensus estimate 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 previous year, the firm posted $0.39 earnings per share. As a group, research analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal 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 paid 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 dividend yield of 3.0%. Glacier Bancorp's dividend payout ratio (DPR) is presently 68.75%.

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.