Insider Selling: Glacier Bancorp, Inc. (NASDAQ:GBCI) Insider Sells 800 Shares of Stock

Key Points

• Insider Lee Kenneth Groom sold 800 shares of Glacier Bancorp stock for $35,392, reducing their ownership by 6.29%. After the sale, Groom still owns 11,918 shares valued at approximately $527,252.
• Glacier Bancorp reported earnings of $0.45 per share for the last quarter, missing analyst estimates of $0.49 per share, while the company's annualized dividend is $1.32 with a yield of 3.1%.
• Various analysts have recently upgraded their ratings on Glacier Bancorp's stock, with a consensus rating of "Moderate Buy" and an average target price of $50.00.

Glacier Bancorp, Inc. (NASDAQ:GBCI - Get Free Report) insider Lee Kenneth Groom sold 800 shares of the company's 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 transaction, the insider directly owned 11,918 shares of the company's stock, valued at approximately $527,252.32. This represents a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Glacier Bancorp Stock Performance

GBCI traded up $0.06 during trading hours on Tuesday, hitting $43.83. 190,008 shares of the stock were exchanged, compared to its average volume of 701,178. The stock has a 50-day simple moving average of $43.71 and a 200-day simple moving average of $44.42. Glacier Bancorp, Inc. has a 12 month low of $36.76 and a 12 month high of $60.67. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 26.25 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 (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 earnings per share (EPS) 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 prior year, the firm earned $0.39 EPS. Analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

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

Institutional Investors Weigh In On Glacier Bancorp

Large investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC acquired a new position in Glacier Bancorp during the second quarter worth about $26,000. Wood Tarver Financial Group LLC acquired a new stake in Glacier Bancorp during the 4th quarter worth about $33,000. eCIO Inc. acquired a new stake in Glacier Bancorp during the 1st quarter worth about $33,000. JNBA Financial Advisors acquired a new stake in shares of Glacier Bancorp during the 1st quarter valued at about $35,000. Finally, UMB Bank n.a. lifted its holdings in shares of Glacier Bancorp by 114.9% during the 1st quarter. UMB Bank n.a. now owns 838 shares of the bank's stock valued at $37,000 after buying an additional 448 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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