Praetorian Wealth Management Inc. Invests $748,000 in 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 stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 17,352 shares of the bank's stock, valued at approximately $748,000.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC increased its position in Glacier Bancorp by 0.7% during the first quarter. CWM LLC now owns 39,635 shares of the bank's stock worth $1,753,000 after buying an additional 285 shares in the last quarter. State of Michigan Retirement System increased its position in Glacier Bancorp by 1.1% during the first quarter. State of Michigan Retirement System now owns 27,136 shares of the bank's stock worth $1,200,000 after buying an additional 300 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Glacier Bancorp by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the bank's stock worth $1,406,000 after buying an additional 300 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Glacier Bancorp by 1.5% during the first quarter. Moody National Bank Trust Division now owns 22,379 shares of the bank's stock worth $990,000 after purchasing an additional 339 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Glacier Bancorp by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 13,286 shares of the bank's stock worth $587,000 after purchasing an additional 360 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

Shares of NASDAQ GBCI traded down $0.38 during midday trading on Friday, hitting $49.75. 2,553,168 shares of the company's stock were exchanged, compared to its average volume of 710,274. The firm has a market cap of $5.90 billion, a P/E ratio of 29.79 and a beta of 0.82. 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 twelve month low of $36.76 and a twelve month high of $60.67. The stock's 50 day moving average price is $46.71 and its 200-day moving average price is $43.96.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share 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 company earned $0.39 earnings per share. Equities research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp's dividend payout ratio is 68.75%.

Insider Activity at Glacier Bancorp

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the business'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 sale, the insider directly owned 11,918 shares of the company's stock, valued at $527,252.32. The trade was a 6.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Raymond James Financial reiterated 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 restated a "buy" rating and set a $50.00 price objective on shares of Glacier Bancorp in a research note on Wednesday, June 25th. Keefe, Bruyette & Woods boosted their price objective 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. Piper Sandler boosted their price objective on Glacier Bancorp from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, Janney Montgomery Scott upgraded 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.