Commonwealth Equity Services LLC Sells 607 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Commonwealth Equity Services LLC cut its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,987 shares of the bank’s stock after selling 607 shares during the period. Commonwealth Equity Services LLC’s holdings in Glacier Bancorp were worth $447,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Glacier Bancorp in the 2nd quarter worth $25,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Glacier Bancorp by 17.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,944 shares of the bank’s stock worth $931,000 after acquiring an additional 3,704 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Glacier Bancorp by 2.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 27,847 shares of the bank’s stock worth $1,039,000 after acquiring an additional 705 shares in the last quarter. Ceredex Value Advisors LLC raised its position in shares of Glacier Bancorp by 145.0% in the 2nd quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock worth $11,513,000 after acquiring an additional 182,600 shares in the last quarter. Finally, Argent Capital Management LLC raised its position in shares of Glacier Bancorp by 60.9% in the 2nd quarter. Argent Capital Management LLC now owns 10,913 shares of the bank’s stock worth $407,000 after acquiring an additional 4,130 shares in the last quarter. 80.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GBCI shares. StockNews.com raised Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Truist Financial upped their target price on Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Friday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.00 target price on shares of Glacier Bancorp in a research report on Tuesday, August 27th. One research 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, Glacier Bancorp currently has a consensus rating of “Hold” and a consensus target price of $43.80.

Glacier Bancorp Trading Down 2.6 %

Shares of Glacier Bancorp stock opened at $46.24 on Friday. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 26.42 and a beta of 0.80. Glacier Bancorp, Inc. has a fifty-two week low of $26.83 and a fifty-two week high of $47.71. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average of $44.06 and a 200 day moving average of $39.83.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $204.43 million. During the same period last year, the business posted $0.50 earnings per share. As a group, research analysts predict that Glacier Bancorp, Inc. will post 1.62 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Tuesday, July 9th were issued a $0.33 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.85%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

Insider Activity at Glacier Bancorp

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

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.