Vanguard Group Inc. Cuts Stock Position in Glacier Bancorp, Inc. $GBCI

Key Points

• Vanguard Group Inc. holds approximately $526.5 million in Glacier Bancorp shares but recently reduced its stake by 1%, owning about 10.49% of the company after selling 122,013 shares.
• Analysts have upgraded their ratings and price targets for Glacier Bancorp, with a consensus target price of $50.00, reflecting positive sentiment in the market following recent financial results.
• The company announced a quarterly dividend of $0.33 per share, yielding 2.9%, with a dividend payout ratio of 68.75% indicating its commitment to returning value to shareholders.

Vanguard Group Inc. trimmed its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,907,150 shares of the bank's stock after selling 122,013 shares during the quarter. Vanguard Group Inc. owned approximately 10.49% of Glacier Bancorp worth $526,534,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GBCI. Capital International Investors increased its stake in Glacier Bancorp by 5.8% during the 4th quarter. Capital International Investors now owns 2,092,571 shares of the bank's stock worth $105,089,000 after buying an additional 115,620 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Glacier Bancorp by 7.7% in the fourth quarter. Northern Trust Corp now owns 1,763,983 shares of the bank's stock worth $88,587,000 after acquiring an additional 126,316 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Glacier Bancorp by 9.1% during the first quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank's stock worth $60,198,000 after purchasing an additional 113,544 shares in the last quarter. Snyder Capital Management L P raised its stake in Glacier Bancorp by 3.4% in the 4th quarter. Snyder Capital Management L P now owns 1,123,980 shares of the bank's stock valued at $56,446,000 after purchasing an additional 37,472 shares during the last quarter. Finally, Madison Asset Management LLC lifted its holdings in Glacier Bancorp by 9.5% in the 1st quarter. Madison Asset Management LLC now owns 1,041,736 shares of the bank's stock valued at $46,066,000 after purchasing an additional 90,512 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Trading Up 0.2%

Shares of NASDAQ GBCI traded up $0.11 during midday trading on Tuesday, reaching $46.55. 115,811 shares of the stock were exchanged, compared to its average volume of 700,142. The stock has a market capitalization of $5.52 billion, a P/E ratio of 27.88 and a beta of 0.79. 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 has a 50 day simple moving average of $44.36 and a 200 day simple moving average of $44.04. Glacier Bancorp, Inc. has a twelve month low of $36.76 and a twelve month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 earnings per share 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 period in the previous year, the business earned $0.39 earnings per share. As a group, equities analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Tuesday, July 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp's payout ratio is 68.75%.

Insider Transactions 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 completion of the transaction, the insider owned 11,918 shares of the company's stock, valued at $527,252.32. This trade represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GBCI. DA Davidson reaffirmed a "buy" rating and set a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday, June 25th. Keefe, Bruyette & Woods boosted their target price on Glacier Bancorp from $50.00 to $52.00 and gave the stock a "market perform" rating in a report on Friday, June 27th. Piper Sandler upped their price target on Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Raymond James Financial reissued an "outperform" rating and set a $48.00 price objective (up previously from $45.00) on shares of Glacier Bancorp in a research note 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 research note on Thursday, June 5th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.00.

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.