Inspire Investing LLC Grows Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Inspire Investing LLC grew its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,472 shares of the bank’s stock after purchasing an additional 593 shares during the quarter. Inspire Investing LLC’s holdings in Glacier Bancorp were worth $353,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Glacier Bancorp in the first quarter worth about $25,000. International Assets Investment Management LLC purchased a new position in shares of Glacier Bancorp in the 2nd quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new stake in Glacier Bancorp in the 1st quarter worth approximately $50,000. GAMMA Investing LLC grew its position in 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 purchasing an additional 772 shares during the last quarter. Finally, TFO Wealth Partners LLC increased its stake in Glacier Bancorp by 66,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,972 shares of the bank’s stock valued at $164,000 after purchasing an additional 3,966 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Insider Activity at Glacier Bancorp

In related news, CAO Don J. Chery sold 1,000 shares of the 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 sale, the chief accounting officer now directly owns 52,539 shares of the company’s stock, valued at $2,389,999.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp 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 completion of the transaction, the director now owns 9,402 shares in the company, valued at approximately $418,859.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Don J. Chery sold 1,000 shares of the 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 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. Company insiders own 0.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on GBCI. Piper Sandler reiterated a “neutral” rating and set a $38.00 price objective on shares of Glacier Bancorp in a research note on Tuesday, August 27th. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Finally, Truist Financial raised their price objective on Glacier Bancorp from $46.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday. 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.80.

Glacier Bancorp Price Performance

NASDAQ:GBCI opened at $46.24 on Monday. The firm’s fifty day moving average is $44.06 and its two-hundred day moving average is $39.83. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 26.42 and a beta of 0.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp, Inc. has a one year low of $26.83 and a one year high of $47.71.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data 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. The business had revenue of $306.04 million during 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 previous 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 Dividend Announcement

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

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.