Westwood Holdings Group Inc. Decreases Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Westwood Holdings Group Inc. trimmed its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.7% in the second quarter, Holdings Channel reports. The institutional investor owned 482,392 shares of the bank’s stock after selling 3,182 shares during the period. Westwood Holdings Group Inc.’s holdings in Glacier Bancorp were worth $18,003,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Glacier Bancorp in the 4th quarter valued at about $32,617,000. Capital Research Global Investors lifted its holdings in shares of Glacier Bancorp by 60.3% in the 1st 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 during the last quarter. Capital International Investors lifted its holdings in shares of Glacier Bancorp by 45.1% in the 4th 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. Clifford Capital Partners LLC lifted its holdings in shares of Glacier Bancorp by 2,389.9% in the 1st quarter. Clifford Capital Partners LLC now owns 300,109 shares of the bank’s stock valued at $12,088,000 after purchasing an additional 288,056 shares during the last quarter. Finally, Sei Investments Co. increased its position in Glacier Bancorp by 123.9% in the 2nd quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock valued at $12,393,000 after acquiring an additional 183,757 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction that occurred 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 owns 52,539 shares in the company, valued at approximately $2,389,999.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Annie M. Goodwin sold 5,619 shares of the company’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 sale, the director now owns 9,402 shares of the company’s stock, valued at approximately $418,859.10. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 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 disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $46.24 on Friday. 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 business’s 50 day moving average is $44.06 and its two-hundred day moving average is $39.83. Glacier Bancorp, Inc. has a 12-month low of $26.83 and a 12-month high of $47.71. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 26.42 and a beta of 0.80.

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 analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $306.04 million for the quarter, compared to analysts’ expectations 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 prior year, the firm posted $0.50 EPS. Research analysts expect that Glacier Bancorp, Inc. will post 1.62 EPS for the current year.

Glacier Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Truist Financial boosted 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. Finally, Piper Sandler restated a “neutral” rating and issued a $38.00 price target on shares of Glacier Bancorp in a research 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Glacier Bancorp has an average rating of “Hold” and an average target price 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.