Glacier Bancorp (NYSE:GBCI) Chairman Craig Langel Buys 2,250 Shares of Stock

Key Points

• Chairman Craig Langel purchased 2,250 Glacier Bancorp shares at an average price of $47.04, investing $105,840 and increasing his direct ownership to 98,684 shares.
• Glacier Bancorp reported quarterly EPS of $0.76, matching analyst expectations, and maintains a quarterly dividend of $0.33, equivalent to a 2.9% yield.
• Analysts give the stock a consensus “Moderate Buy” rating with an average price target of $55.17, versus a recent trading price of $46.30.

Glacier Bancorp, Inc. (NYSE:GBCI - Get Free Report) Chairman Craig Langel bought 2,250 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of $47.04 per share, for a total transaction of $105,840.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Glacier Bancorp Price Performance

GBCI stock traded down $0.58 on Monday, hitting $46.30. 995,192 shares of the company's stock traded hands, compared to its average volume of 1,054,017. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 18.98 and a beta of 0.74. Glacier Bancorp, Inc. has a 1-year low of $39.90 and a 1-year high of $54.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $50.15 and a 200-day moving average of $48.27.

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

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, July 7th. Glacier Bancorp's payout ratio is presently 54.10%.

Institutional Trading of Glacier Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Root Financial Partners LLC increased its holdings in shares of Glacier Bancorp by 122.5% in the 1st quarter. Root Financial Partners LLC now owns 652 shares of the company's stock valued at $29,000 after purchasing an additional 359 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Glacier Bancorp during the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company's stock valued at $31,000 after buying an additional 490 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Glacier Bancorp by 41.2% in the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company's stock valued at $34,000 after buying an additional 223 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Glacier Bancorp in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GBCI shares. DA Davidson reiterated a "buy" rating and issued a $58.00 price target on shares of Glacier Bancorp in a research report on Monday, July 27th. Weiss Ratings raised shares of Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Five 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. Based on data from MarketBeat, Glacier Bancorp presently has an average rating of "Moderate Buy" and an average target price of $55.17.

Glacier Bancorp Company Profile

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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