Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by Profund Advisors LLC

Profund Advisors LLC lowered its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,526 shares of the bank’s stock after selling 404 shares during the period. Profund Advisors LLC’s holdings in Glacier Bancorp were worth $318,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GBCI. Janney Montgomery Scott LLC lifted its holdings in Glacier Bancorp by 4.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,338 shares of the bank’s stock valued at $675,000 after purchasing an additional 698 shares in the last quarter. Norges Bank purchased a new position in shares of Glacier Bancorp during the fourth quarter valued at approximately $32,617,000. Wells Fargo & Company MN lifted its stake in shares of Glacier Bancorp by 3.7% during the fourth quarter. Wells Fargo & Company MN now owns 180,128 shares of the bank’s stock valued at $7,443,000 after buying an additional 6,502 shares during the period. US Bancorp DE boosted its position in Glacier Bancorp by 23.7% during the fourth quarter. US Bancorp DE now owns 15,792 shares of the bank’s stock worth $653,000 after acquiring an additional 3,022 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in Glacier Bancorp by 31.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,006 shares of the bank’s stock valued at $331,000 after acquiring an additional 1,918 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Analysts Set New Price Targets

GBCI has been the topic of several analyst reports. Truist Financial raised their price objective on Glacier Bancorp from $46.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, September 20th. StockNews.com raised Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price objective on shares of Glacier Bancorp in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $43.80.

Insider Activity at Glacier Bancorp

In related news, CAO Don J. Chery sold 1,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $45.49, for a total value of $45,490.00. Following the completion of the sale, the chief accounting officer now directly owns 52,539 shares in the company, valued at approximately $2,389,999.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Don J. Chery sold 1,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $45.49, for a total value of $45,490.00. Following the completion of the sale, the chief accounting officer now owns 52,539 shares in the company, valued at $2,389,999.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Annie M. Goodwin sold 5,619 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total value of $250,326.45. Following the transaction, the director now directly owns 9,402 shares in the company, valued at $418,859.10. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Glacier Bancorp Price Performance

GBCI stock opened at $45.20 on Friday. The company has a market cap of $5.13 billion, a PE ratio of 25.83 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average price of $44.22 and a two-hundred day moving average price of $39.97. Glacier Bancorp, Inc. has a 12-month low of $27.36 and a 12-month high of $47.71.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. The business had revenue of $306.04 million during the quarter, compared to analysts’ expectations of $204.43 million. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, research analysts predict that Glacier Bancorp, Inc. will post 1.62 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

About Glacier Bancorp

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.