Massachusetts Financial Services Co. MA Buys 99,811 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Massachusetts Financial Services Co. MA grew its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 9.7% in the second quarter, Holdings Channel reports. The fund owned 1,125,955 shares of the bank’s stock after acquiring an additional 99,811 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Glacier Bancorp were worth $42,021,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in Glacier Bancorp in the first quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new position in shares of Glacier Bancorp during the 2nd quarter valued at $25,000. Headlands Technologies LLC bought a new position in shares of Glacier Bancorp during the 1st quarter worth $50,000. GAMMA Investing LLC grew its stake in shares of Glacier Bancorp by 96.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after acquiring an additional 772 shares during the period. Finally, TFO Wealth Partners LLC raised its stake in Glacier Bancorp by 66,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,972 shares of the bank’s stock valued at $164,000 after acquiring an additional 3,966 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $47.46 on Friday. The company has a 50 day moving average of $43.92 and a 200 day moving average of $39.77. 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 market cap of $5.38 billion, a P/E ratio of 27.12 and a beta of 0.80. Glacier Bancorp, Inc. has a 12 month low of $26.83 and a 12 month high of $47.71.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $306.04 million for the quarter, compared to analysts’ expectations of $204.43 million. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. During the same quarter in the prior year, the firm posted $0.50 earnings per share. As a group, sell-side analysts forecast that Glacier Bancorp, Inc. will post 1.62 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.78%. Glacier Bancorp’s payout ratio is currently 75.43%.

Analyst Ratings Changes

A number of brokerages have weighed in on GBCI. Truist Financial increased their target price on shares of Glacier Bancorp from $38.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Finally, Piper Sandler reissued a “neutral” rating and set a $38.00 target price on shares of Glacier Bancorp in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.00.

Insider Activity

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

Glacier Bancorp 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.