Praetorian Wealth Management Inc. Buys Shares of 17,352 Glacier Bancorp, Inc. $GBCI

Key Points

• Praetorian Wealth Management Inc. acquired 17,352 shares of Glacier Bancorp, Inc. valued at approximately $748,000 during the second quarter, adding to a trend of institutional investment in the stock.
• Glacier Bancorp's shares recently traded down 1.0% at $47.65, with a market cap of $5.65 billion and a PE ratio of 28.53.
• Glacier Bancorp declared a quarterly dividend of $0.33 per share, reflecting an annualized dividend yield of 2.8% and a payout ratio of 68.75%.

Praetorian Wealth Management Inc. bought a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,352 shares of the bank's stock, valued at approximately $748,000.

Other large investors also recently bought and sold shares of the company. First Interstate Bank acquired a new position in Glacier Bancorp in the first quarter valued at approximately $593,000. Bessemer Group Inc. lifted its holdings in Glacier Bancorp by 1,839.2% in the first quarter. Bessemer Group Inc. now owns 9,599 shares of the bank's stock valued at $424,000 after acquiring an additional 9,104 shares during the period. GAMMA Investing LLC lifted its holdings in Glacier Bancorp by 4,580.7% in the first quarter. GAMMA Investing LLC now owns 142,388 shares of the bank's stock valued at $6,296,000 after acquiring an additional 139,346 shares during the period. Empower Advisory Group LLC acquired a new position in Glacier Bancorp in the first quarter valued at approximately $864,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Glacier Bancorp by 3.7% in the first quarter. Envestnet Asset Management Inc. now owns 189,263 shares of the bank's stock valued at $8,369,000 after acquiring an additional 6,806 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Lee Kenneth Groom sold 800 shares of the company's 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 completion of the sale, the insider owned 11,918 shares of the company's stock, valued at $527,252.32. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GBCI has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target for the company in a report on Thursday, June 5th. Keefe, Bruyette & Woods upped their target price on Glacier Bancorp from $52.00 to $55.00 and gave the stock a "market perform" rating in a research note on Thursday, August 28th. DA Davidson reissued a "buy" rating and issued a $50.00 price target on shares of Glacier Bancorp in a research note on Wednesday, June 25th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Glacier Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $50.50.

Glacier Bancorp Price Performance

Shares of Glacier Bancorp stock traded up $1.93 during trading hours on Thursday, reaching $50.14. 743,011 shares of the company's stock were exchanged, compared to its average volume of 699,921. Glacier Bancorp, Inc. has a 1 year low of $36.76 and a 1 year high of $60.67. The company has a market capitalization of $5.94 billion, a P/E ratio of 30.03 and a beta of 0.82. The business has a fifty day moving average of $46.64 and a two-hundred day moving average of $43.95. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share (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 quarter in the previous year, the business posted $0.39 EPS. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were issued 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 2.6%. Glacier Bancorp's dividend payout ratio is presently 68.75%.

Glacier Bancorp 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.