Nuveen LLC Invests $21.22 Million in Glacier Bancorp, Inc. $GBCI

Key Points

• Nuveen LLC has made a significant investment in Glacier Bancorp, purchasing approximately $21.22 million worth of shares, which constitutes about 0.42% of the company's total stock.
• Glacier Bancorp recently announced a quarterly dividend of $0.33 per share, resulting in an annual yield of 2.8% based on a payout ratio of 68.75%.
• Analysts maintain a consensus rating of "Moderate Buy" for Glacier Bancorp, with target prices ranging from $48 to $52, indicating a positive outlook on the stock's performance.

Nuveen LLC bought a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 479,877 shares of the bank's stock, valued at approximately $21,220,000. Nuveen LLC owned approximately 0.42% of Glacier Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wood Tarver Financial Group LLC acquired a new position in shares of Glacier Bancorp in the 4th quarter valued at $33,000. JNBA Financial Advisors acquired a new position in shares of Glacier Bancorp in the 1st quarter valued at $35,000. UMB Bank n.a. boosted its position 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 valued at $37,000 after purchasing an additional 448 shares during the period. Farther Finance Advisors LLC boosted its position 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 valued at $62,000 after purchasing an additional 1,001 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Glacier Bancorp in the 4th quarter valued at $146,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Insider Buying and Selling at Glacier Bancorp

In other 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 transaction of $35,392.00. Following the completion of the sale, the insider directly owned 11,918 shares of the company's stock, valued at $527,252.32. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

Glacier Bancorp Stock Up 6.6%

NASDAQ GBCI traded up $3.0130 during trading on Friday, reaching $48.4830. 1,541,380 shares of the company's stock were exchanged, compared to its average volume of 711,783. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $60.67. The firm has a market capitalization of $5.75 billion, a PE ratio of 29.03 and a beta of 0.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company's fifty day simple moving average is $44.68 and its 200-day simple moving average is $43.94.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing analysts' consensus estimates 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 period last year, the business earned $0.39 EPS. Sell-side analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders 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 2.7%. Glacier Bancorp's dividend payout ratio (DPR) is 68.75%.

Analysts Set New Price Targets

GBCI has been the subject of a number of recent analyst reports. Janney Montgomery Scott upgraded Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target for the company in a research report on Thursday, June 5th. Raymond James Financial reiterated an "outperform" rating and issued a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. DA Davidson reiterated a "buy" rating and issued a $50.00 price target on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Piper Sandler increased their price target on Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Keefe, Bruyette & Woods raised their price objective on Glacier Bancorp from $50.00 to $52.00 and gave the stock a "market perform" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.00.

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.