Wealth Enhancement Advisory Services LLC Purchases Shares of 6,462 Glacier Bancorp, Inc. $GBCI

Key Points

• Wealth Enhancement Advisory Services LLC has acquired a new stake of 6,462 shares of Glacier Bancorp, Inc., valued at approximately $304,000, during the second quarter.
• Glacier Bancorp announced a quarterly dividend of $0.33 per share to be paid on October 16th, with an annualized yield of 2.7%.
• The company's stock has a market capitalization of $5.69 billion and has seen a recent trading increase of 1.3%, with a current price around $48.02.

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,462 shares of the bank's stock, valued at approximately $304,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC increased its stake in Glacier Bancorp by 0.7% during the first quarter. CWM LLC now owns 39,635 shares of the bank's stock valued at $1,753,000 after purchasing an additional 285 shares during the last quarter. State of Michigan Retirement System lifted its stake 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 valued at $1,200,000 after buying an additional 300 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Glacier Bancorp by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the bank's stock worth $1,406,000 after purchasing an additional 300 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Glacier Bancorp by 2.8% in 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 in the last quarter. Finally, Blue Trust Inc. increased its holdings in Glacier Bancorp by 8.9% in the first quarter. Blue Trust Inc. now owns 4,698 shares of the bank's stock worth $208,000 after buying an additional 382 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Trading Up 1.3%

NASDAQ GBCI opened at $48.02 on Thursday. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 28.76 and a beta of 0.79. The stock's 50 day moving average price is $47.52 and its two-hundred day moving average price is $44.30. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released 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 net margin of 14.99% and a return on equity of 5.98%. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, October 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. Glacier Bancorp's payout ratio is presently 68.75%.

Insider Buying and Selling at Glacier Bancorp

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $44.24, for a total value of $35,392.00. Following the transaction, the insider directly 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 filing with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

GBCI has been the topic of several analyst reports. Raymond James Financial set a $55.00 price target on Glacier Bancorp and gave the company an "outperform" rating in a report on Tuesday. Piper Sandler lifted their price objective on Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, July 28th. 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. Finally, Keefe, Bruyette & Woods lifted their price objective 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 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $51.67.

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.

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