Wellington Management Group LLP Boosts Stock Holdings in Glacier Bancorp, Inc. $GBCI

Key Points

• Wellington Management increased its Glacier Bancorp stake by 55.4% in the second quarter to 106,943 shares, while BlackRock acquired a new position valued at approximately $913.8 million. Institutional investors and hedge funds collectively own 80.17% of GBCI.
• Glacier Bancorp reported quarterly EPS of $0.76 on revenue of $320.94 million, matching analyst expectations and improving from $0.57 EPS a year earlier. The company also pays a $0.33 quarterly dividend, representing a 2.9% yield.
• Analysts maintain a “Moderate Buy” consensus on GBCI, with a $55.17 average price target. The stock recently opened at $45.71, below its 50-day moving average of $49.40.

Wellington Management Group LLP grew its stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 55.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 106,943 shares of the company's stock after buying an additional 38,145 shares during the period. Wellington Management Group LLP owned 0.08% of Glacier Bancorp worth $5,516,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Glacier Bancorp during the second quarter worth about $913,766,000. State Street Corp lifted its stake in shares of Glacier Bancorp by 9.9% in the 4th quarter. State Street Corp now owns 6,178,363 shares of the company's stock valued at $272,157,000 after purchasing an additional 557,873 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Glacier Bancorp by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company's stock worth $146,736,000 after purchasing an additional 237,316 shares during the period. Cooke & Bieler LP grew its holdings in shares of Glacier Bancorp by 5.3% during the 4th quarter. Cooke & Bieler LP now owns 3,049,334 shares of the company's stock worth $134,323,000 after purchasing an additional 154,595 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Glacier Bancorp by 16.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,845,069 shares of the company's stock worth $125,328,000 after purchasing an additional 402,939 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Craig Langel acquired 2,250 shares of the firm's stock in a transaction on Friday, August 28th. The stock was bought at an average cost of $47.04 per share, with a total value of $105,840.00. Following the transaction, the chairman directly owned 98,684 shares in the company, valued at approximately $4,642,095.36. This represents a 2.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by corporate insiders.

Glacier Bancorp Price Performance

GBCI stock opened at $45.71 on Thursday. The firm has a market cap of $5.95 billion, a P/E ratio of 18.73 and a beta of 0.72. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84. Glacier Bancorp, Inc. has a 1 year low of $39.90 and a 1 year high of $54.58. The stock has a 50-day simple moving average of $49.40 and a 200-day simple moving average of $48.00.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, hitting analysts' consensus estimates of $0.76. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.The firm had revenue of $320.94 million during the quarter. During the same quarter in the prior year, the company earned $0.57 EPS. On average, equities analysts predict that Glacier Bancorp, Inc. will post 3.11 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 annualized dividend and a yield of 2.9%. Glacier Bancorp's payout ratio is 54.10%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GBCI. Weiss Ratings raised shares of Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. DA Davidson reissued a "buy" rating and issued a $58.00 price objective on shares of Glacier Bancorp in a research report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $55.17.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.

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