ProShare Advisors LLC Sells 35,366 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

ProShare Advisors LLC lowered its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 15.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 188,046 shares of the bank’s stock after selling 35,366 shares during the quarter. ProShare Advisors LLC’s holdings in Glacier Bancorp were worth $7,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GBCI. Vanguard Group Inc. grew its position in Glacier Bancorp by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock worth $510,312,000 after buying an additional 80,251 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Glacier Bancorp by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,611,345 shares of the bank’s stock worth $97,450,000 after purchasing an additional 103,374 shares during the last quarter. Capital Research Global Investors raised its stake in Glacier Bancorp by 60.3% in the first quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock valued at $77,539,000 after purchasing an additional 724,089 shares in the last quarter. Capital International Investors lifted its position in Glacier Bancorp by 45.1% during the fourth quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock valued at $75,326,000 after purchasing an additional 566,513 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Glacier Bancorp by 10.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,528,273 shares of the bank’s stock worth $57,035,000 after buying an additional 149,404 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $45.18 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.82. The stock has a market cap of $5.12 billion, a PE ratio of 25.82 and a beta of 0.80. The company’s fifty day moving average is $44.19 and its 200 day moving average is $39.90. Glacier Bancorp, Inc. has a 52 week low of $27.36 and a 52 week high of $47.71.

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

Insider Buying and Selling at Glacier Bancorp

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

Wall Street Analyst Weigh In

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

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.