Northern Trust Corp Lowers Stock Holdings in Glacier Bancorp, Inc. $GBCI

Key Points

• Northern Trust Corp reduced its stake in Glacier Bancorp by 0.4% in Q1, owning 1.55% of the company worth approximately $77.7 million.
• Investment analysts have given Glacier Bancorp an average rating of "Moderate Buy" with a price target of $50.00, indicating anticipated growth.
• The company recently declared a quarterly dividend of $0.33 per share, resulting in an annualized dividend yield of 2.7%.

Northern Trust Corp lowered its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,757,255 shares of the bank's stock after selling 6,728 shares during the period. Northern Trust Corp owned approximately 1.55% of Glacier Bancorp worth $77,706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of Glacier Bancorp by 9.1% during the first quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank's stock valued at $60,198,000 after acquiring an additional 113,544 shares in the last quarter. Madison Asset Management LLC increased its position in shares of Glacier Bancorp by 9.5% during the first quarter. Madison Asset Management LLC now owns 1,041,736 shares of the bank's stock valued at $46,066,000 after acquiring an additional 90,512 shares in the last quarter. Millennium Management LLC increased its position in shares of Glacier Bancorp by 4,600.1% during the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank's stock valued at $47,010,000 after acquiring an additional 916,163 shares in the last quarter. Port Capital LLC increased its position in shares of Glacier Bancorp by 3.1% during the fourth quarter. Port Capital LLC now owns 680,613 shares of the bank's stock valued at $34,180,000 after acquiring an additional 20,700 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of Glacier Bancorp by 7.6% during the first quarter. Westwood Holdings Group Inc. now owns 623,814 shares of the bank's stock valued at $27,585,000 after acquiring an additional 44,246 shares in the last quarter. Institutional investors own 80.17% of the company's stock.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock traded up $0.41 on Friday, hitting $49.20. 1,043,684 shares of the company's stock were exchanged, compared to its average volume of 712,708. The company has a 50-day simple moving average of $45.50 and a 200-day simple moving average of $43.92. The stock has a market capitalization of $5.83 billion, a PE ratio of 29.46 and a beta of 0.79. Glacier Bancorp, Inc. has a 1 year low of $36.76 and a 1 year high of $60.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm posted $0.39 EPS. As a group, equities analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently announced 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 was Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. Glacier Bancorp's payout ratio is 68.75%.

Insider Buying and Selling at Glacier Bancorp

In related news, insider Lee Kenneth Groom sold 800 shares of Glacier Bancorp stock in a transaction 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 owned 11,918 shares in the company, valued at approximately $527,252.32. The trade was a 6.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented 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 research report on Thursday, June 26th. 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. 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. Keefe, Bruyette & Woods lifted their target price on shares of Glacier Bancorp from $52.00 to $55.00 and gave the stock a "market perform" rating in a research report on Thursday. Finally, Janney Montgomery Scott raised shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price for the company in a research report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Glacier Bancorp has an average rating of "Moderate Buy" and an average 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.