Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Purchased by Westwood Holdings Group Inc.

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. increased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 623,814 shares of the bank's stock after buying 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 quarter.

Several other institutional investors have also recently made changes to their positions in GBCI. Empower Advisory Group LLC purchased a new stake in Glacier Bancorp in the 1st quarter worth about $864,000. Natixis Advisors LLC boosted its stake 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 valued at $17,711,000 after purchasing an additional 33,336 shares in the last quarter. XTX Topco Ltd purchased a new position in Glacier Bancorp in the first quarter valued at about $1,816,000. Federated Hermes Inc. boosted its stake in Glacier Bancorp by 17.8% in the first quarter. Federated Hermes Inc. now owns 13,685 shares of the bank's stock valued at $605,000 after acquiring an additional 2,069 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake 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 last quarter. Hedge funds and other institutional investors own 80.17% of the company's stock.

Insider Transactions at Glacier Bancorp

In other 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 value of $35,392.00. Following the sale, the insider owned 11,918 shares of the company's stock, valued at $527,252.32. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company's stock.

Glacier Bancorp Stock Up 0.5%

Shares of GBCI traded up $0.23 during mid-day trading on Friday, reaching $43.85. The company's stock had a trading volume of 530,256 shares, compared to its average volume of 702,488. The stock has a market cap of $5.20 billion, a PE ratio of 26.26 and a beta of 0.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp, Inc. has a 12-month low of $36.76 and a 12-month high of $60.67. The company's 50 day moving average is $43.89 and its 200 day moving average is $44.31.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its quarterly earnings results 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 company posted $0.39 EPS. Equities analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, July 8th. Glacier Bancorp's payout ratio is currently 68.75%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GBCI shares. Piper Sandler raised their price target on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. DA Davidson reaffirmed a "buy" rating and issued a $50.00 price target on shares of Glacier Bancorp in a report on Wednesday, June 25th. Keefe, Bruyette & Woods increased their price target on Glacier Bancorp from $50.00 to $52.00 and gave the stock a "market perform" rating in a report on Friday, June 27th. Raymond James Financial reaffirmed an "outperform" rating and issued a $48.00 price objective (up from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Finally, Janney Montgomery Scott upgraded shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price on the stock in a report on Thursday, June 5th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.