Nuveen LLC Makes New $21.22 Million Investment 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 purchased a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 479,877 shares of the bank's stock, valued at approximately $21,220,000. Nuveen LLC owned about 0.42% of Glacier Bancorp at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wood Tarver Financial Group LLC purchased a new stake in Glacier Bancorp during the 4th quarter worth about $33,000. JNBA Financial Advisors purchased a new stake in shares of Glacier Bancorp in the 1st quarter valued at 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 valued at $37,000 after purchasing 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 valued at $62,000 after purchasing an additional 1,001 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Glacier Bancorp in the 4th quarter valued at about $146,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Up 2.3%

GBCI opened at $46.44 on Tuesday. The business has a 50 day moving average price of $44.36 and a two-hundred day moving average price of $44.04. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market cap of $5.50 billion, a PE ratio of 27.81 and a beta of 0.79. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its quarterly earnings data 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 period in the previous year, the company earned $0.39 EPS. As a group, research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 8th. This represents a $1.32 annualized dividend and a yield of 2.8%. Glacier Bancorp's payout ratio is presently 68.75%.

Insider Transactions at Glacier Bancorp

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler boosted their target price on Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods boosted their target price on Glacier Bancorp from $50.00 to $52.00 and gave the company a "market perform" rating in a report on Friday, June 27th. DA Davidson reissued a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday, June 25th. Raymond James Financial reissued an "outperform" rating and issued a $48.00 target price (up from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. Finally, Janney Montgomery Scott raised 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. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $50.00.

About Glacier Bancorp

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.

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