Raymond James Financial Inc. Purchases 5,765 Shares of Glacier Bancorp, Inc. $GBCI

Key Points

• Raymond James Financial Inc. increased its stake in Glacier Bancorp, acquiring an additional 5,765 shares, bringing its total ownership to approximately 0.17% valued at $8.66 million.
• Glacier Bancorp recently announced a quarterly dividend of $0.33 per share, representing a 2.7% dividend yield, with a payout ratio of 68.75%.
• Analyst ratings for Glacier Bancorp range from "Strong Buy" to "Hold," with a consensus rating of "Moderate Buy" and an average price target of $50.50.

Raymond James Financial Inc. raised its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 195,806 shares of the bank's stock after purchasing an additional 5,765 shares during the period. Raymond James Financial Inc. owned 0.17% of Glacier Bancorp worth $8,659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Millennium Management LLC raised its position in shares of Glacier Bancorp by 4,600.1% in the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank's stock valued at $47,010,000 after buying an additional 916,163 shares during the last quarter. Nuveen LLC purchased a new stake in Glacier Bancorp during the first quarter worth approximately $21,220,000. Peregrine Capital Management LLC purchased a new stake in Glacier Bancorp during the first quarter worth approximately $7,754,000. GAMMA Investing LLC grew its stake in Glacier Bancorp by 4,580.7% during the first quarter. GAMMA Investing LLC now owns 142,388 shares of the bank's stock worth $6,296,000 after buying an additional 139,346 shares during the period. Finally, Northern Trust Corp grew its stake in Glacier Bancorp by 7.7% during the fourth quarter. Northern Trust Corp now owns 1,763,983 shares of the bank's stock worth $88,587,000 after buying an additional 126,316 shares during the period. Hedge funds and other institutional investors own 80.17% of the company's stock.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI traded down $0.01 during trading hours on Wednesday, hitting $48.73. 573,531 shares of the company's stock traded hands, compared to its average volume of 710,583. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week 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. The company's fifty day simple moving average is $45.89 and its two-hundred day simple moving average is $43.94. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 29.18 and a beta of 0.82.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its earnings results 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 return on equity of 5.98% and a net margin of 14.99%.During the same quarter last year, the firm earned $0.39 earnings per share. As a group, equities analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. Glacier Bancorp's dividend payout ratio is presently 68.75%.

Wall Street Analysts Forecast Growth

GBCI has been the subject of several analyst reports. Raymond James Financial restated an "outperform" rating and issued a $48.00 target price (up from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Keefe, Bruyette & Woods upped their target price on shares of Glacier Bancorp from $52.00 to $55.00 and gave the company a "market perform" rating in a research note on Thursday, August 28th. Piper Sandler upped their target price on shares of Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Janney Montgomery Scott upgraded 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 note on Thursday, June 5th. Finally, DA Davidson restated a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a research note on Wednesday, June 25th. One 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 company. Based on data from MarketBeat, Glacier Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $50.50.

Insider Buying and Selling at Glacier Bancorp

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the stock in a transaction dated 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 owned 11,918 shares of the company's stock, valued at $527,252.32. This represents a 6.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company's stock.

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.