Strs Ohio Purchases Shares of 10,900 Glacier Bancorp, Inc. $GBCI

Key Points

• Strs Ohio has acquired a new stake in Glacier Bancorp, purchasing 10,900 shares valued at approximately $482,000.
• Several other institutional investors have increased their holdings in Glacier Bancorp, with significant purchases including Nuveen LLC investing around $21.2 million.
• Glacier Bancorp recently declared a quarterly dividend of $0.33 per share, yielding 2.7%, with a payout ratio of 68.75%.

Strs Ohio purchased a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,900 shares of the bank's stock, valued at approximately $482,000.

Several other hedge funds have also recently made changes to their positions in GBCI. Nuveen LLC bought a new stake in shares of Glacier Bancorp during the 1st quarter valued at $21,220,000. Jane Street Group LLC raised its stake in shares of Glacier Bancorp by 464.3% during the 1st quarter. Jane Street Group LLC now owns 287,773 shares of the bank's stock valued at $12,725,000 after purchasing an additional 236,781 shares during the period. Peregrine Capital Management LLC bought a new stake in shares of Glacier Bancorp during the 1st quarter valued at $7,754,000. GAMMA Investing LLC raised its stake in shares of Glacier Bancorp by 4,580.7% during the 1st quarter. GAMMA Investing LLC now owns 142,388 shares of the bank's stock valued at $6,296,000 after purchasing an additional 139,346 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Glacier Bancorp by 9.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank's stock valued at $60,198,000 after purchasing an additional 113,544 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. 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. DA Davidson restated a "buy" rating and set a $50.00 target price on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Piper Sandler boosted their target price on Glacier Bancorp from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Raymond James Financial restated an "outperform" rating and set a $48.00 target price (up from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Finally, Keefe, Bruyette & Woods boosted their target price on Glacier Bancorp from $52.00 to $55.00 and gave the stock a "market perform" rating in a research report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.50.

Insiders Place Their Bets

In related news, insider Lee Kenneth Groom sold 800 shares of the 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 in the company, valued at $527,252.32. This represents a 6.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by corporate insiders.

Glacier Bancorp Price Performance

Shares of GBCI traded down $0.03 during midday trading on Monday, reaching $49.65. The stock had a trading volume of 850,437 shares, compared to its average volume of 710,819. The company's 50-day moving average is $46.77 and its 200 day moving average is $43.98. Glacier Bancorp, Inc. has a 12-month low of $36.76 and a 12-month high of $60.67. 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 has a market capitalization of $5.89 billion, a price-to-earnings ratio of 29.73 and a beta of 0.82.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its quarterly earnings data 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 period in the previous year, the firm earned $0.39 earnings per share. On average, equities analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Tuesday, July 8th were issued 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 2.7%. Glacier Bancorp's dividend payout ratio is currently 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.