Envestnet Asset Management Inc. Grows Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Envestnet Asset Management Inc. increased its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190,282 shares of the bank’s stock after purchasing an additional 3,242 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of Glacier Bancorp worth $7,101,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Glacier Bancorp by 16.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,191 shares of the bank’s stock worth $679,000 after buying an additional 2,520 shares in the last quarter. Arizona State Retirement System boosted its position in Glacier Bancorp by 4.2% during the second quarter. Arizona State Retirement System now owns 31,741 shares of the bank’s stock worth $1,185,000 after acquiring an additional 1,268 shares during the last quarter. Victory Capital Management Inc. grew its stake 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 valued at $57,035,000 after acquiring an additional 149,404 shares in the last quarter. Rhumbline Advisers grew its stake in Glacier Bancorp by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 401,991 shares of the bank’s stock valued at $15,002,000 after acquiring an additional 8,266 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in Glacier Bancorp in the 2nd quarter valued at about $258,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Stock Up 0.2 %

GBCI stock opened at $45.20 on Friday. The firm has a market cap of $5.13 billion, a PE ratio of 25.83 and a beta of 0.80. Glacier Bancorp, Inc. has a one year low of $27.36 and a one year 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 firm’s 50 day moving average price is $44.27 and its 200-day moving average price is $40.00.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $306.04 million for 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 prior year, the company posted $0.50 EPS. On average, equities research analysts anticipate that Glacier Bancorp, Inc. will post 1.62 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.92%. The ex-dividend date is Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

Insider Buying and Selling at Glacier Bancorp

In other news, Director Annie M. Goodwin sold 5,619 shares of the business’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 approximately $418,859.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp stock in a transaction 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 completion of 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 this link. Also, CAO Don J. Chery sold 1,000 shares of the business’s stock in a transaction 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 owns 52,539 shares in the company, valued at approximately $2,389,999.11. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating and set a $38.00 target price on shares of Glacier Bancorp in a report on Tuesday, August 27th. StockNews.com raised Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Finally, Truist Financial raised their target price on Glacier Bancorp from $46.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Glacier Bancorp currently has a consensus 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.