Federated Hermes Inc. Has $475,000 Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Federated Hermes Inc. lessened its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 12,724 shares of the bank’s stock after selling 290 shares during the quarter. Federated Hermes Inc.’s holdings in Glacier Bancorp were worth $475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Glacier Bancorp by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock valued at $510,312,000 after acquiring an additional 80,251 shares during the period. Capital Research Global Investors lifted its holdings in Glacier Bancorp by 60.3% during the 1st quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock worth $77,539,000 after purchasing an additional 724,089 shares during the last quarter. Capital International Investors grew its holdings in 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 buying an additional 566,513 shares in the last quarter. Victory Capital Management Inc. increased its position in Glacier Bancorp by 10.8% during 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 during the period. Finally, Madison Asset Management LLC lifted its holdings in shares of Glacier Bancorp by 3.7% during the fourth quarter. Madison Asset Management LLC now owns 1,096,720 shares of the bank’s stock worth $45,316,000 after buying an additional 39,434 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $46.01 on Tuesday. The firm’s 50 day simple moving average is $44.15 and its 200 day simple moving average is $39.87. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 26.29 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. Glacier Bancorp, Inc. has a 1 year low of $27.36 and a 1 year high of $47.71.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $306.04 million for the quarter, compared to analyst estimates of $204.43 million. During the same quarter last year, the company posted $0.50 EPS. As a group, research analysts expect that Glacier Bancorp, Inc. will post 1.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Glacier Bancorp

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Truist Financial raised their target price on shares of Glacier Bancorp from $46.00 to $50.00 and gave the stock a “hold” rating in a report on Friday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $38.00 price target 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 issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Glacier Bancorp has an average rating of “Hold” and an average price target of $43.80.

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.