Westwood Holdings Group Inc. Has $27.59 Million Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Key Points

• Westwood Holdings Group Inc. has increased its stake in Glacier Bancorp by 7.6%, now owning approximately 0.55% of the company, valued at about $27.58 million.
• Glacier Bancorp has received several new price targets from analysts, with a consensus target price set at $50.00, reflecting a generally positive outlook for the company's stock.
• The company recently declared a quarterly dividend of $0.33, translating to an annualized dividend yield of 3.0% and a payout ratio of 68.75%.

Westwood Holdings Group Inc. grew its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 623,814 shares of the bank's stock after purchasing an additional 44,246 shares during the period. Westwood Holdings Group Inc. owned about 0.55% of Glacier Bancorp worth $27,585,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Empower Advisory Group LLC acquired a new stake in shares of Glacier Bancorp during the first quarter worth $864,000. Natixis Advisors LLC raised its holdings in shares of Glacier Bancorp by 9.1% during the first quarter. Natixis Advisors LLC now owns 400,520 shares of the bank's stock worth $17,711,000 after acquiring an additional 33,336 shares during the period. XTX Topco Ltd acquired a new stake in shares of Glacier Bancorp during the first quarter worth $1,816,000. Federated Hermes Inc. raised its holdings in shares of Glacier Bancorp by 17.8% during the first quarter. Federated Hermes Inc. now owns 13,685 shares of the bank's stock worth $605,000 after acquiring an additional 2,069 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Glacier Bancorp by 12.6% during the first quarter. Mackenzie Financial Corp now owns 14,505 shares of the bank's stock worth $641,000 after acquiring an additional 1,625 shares during the period. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

Shares of GBCI traded up $0.23 during midday trading on Friday, reaching $43.85. The stock had a trading volume of 530,256 shares, compared to its average volume of 702,488. The firm has a 50 day simple moving average of $43.89 and a 200-day simple moving average of $44.26. Glacier Bancorp, Inc. has a one year low of $36.76 and a one year high of $60.67. The firm has a market cap of $5.20 billion, a PE ratio of 26.26 and a beta of 0.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the company posted $0.39 earnings per share. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current 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 of this dividend was Tuesday, July 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.0%. Glacier Bancorp's payout ratio is presently 68.75%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GBCI. DA Davidson reiterated a "buy" rating and issued a $50.00 price target on shares of Glacier Bancorp in a research note on Wednesday, June 25th. Keefe, Bruyette & Woods lifted their price target on shares of Glacier Bancorp from $50.00 to $52.00 and gave the company a "market perform" rating in a research note on Friday, June 27th. Piper Sandler lifted their price target 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 price target on the stock in a research note on Thursday, June 5th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $48.00 price target (up from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Glacier Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $50.00.

Insider Activity at Glacier Bancorp

In related news, insider Lee Kenneth Groom sold 800 shares of Glacier Bancorp 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 sale, the insider owned 11,918 shares of the company's stock, valued at approximately $527,252.32. The trade was a 6.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.