Renaissance Technologies LLC Takes $2.52 Million Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Renaissance Technologies LLC acquired a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 67,592 shares of the bank’s stock, valued at approximately $2,523,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GBCI. Allspring Global Investments Holdings LLC acquired a new stake in shares of Glacier Bancorp during the 1st quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new position in Glacier Bancorp in the 2nd quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in Glacier Bancorp during the first quarter worth $50,000. GAMMA Investing LLC boosted its position in Glacier Bancorp by 96.9% during the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after purchasing an additional 772 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its holdings in Glacier Bancorp by 66,100.0% in the fourth 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 during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Glacier Bancorp

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 owns 9,402 shares of the company’s stock, valued at $418,859.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Glacier Bancorp news, CAO Don J. Chery sold 1,000 shares of Glacier Bancorp 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 transaction, the chief accounting officer now owns 52,539 shares in the company, valued at approximately $2,389,999.11. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Annie M. Goodwin sold 5,619 shares of the company’s 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 sale, the director now owns 9,402 shares of the company’s stock, valued at $418,859.10. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Glacier Bancorp Trading Down 3.5 %

Glacier Bancorp stock opened at $44.09 on Wednesday. The stock has a 50-day moving average price of $44.28 and a 200 day moving average price of $40.10. Glacier Bancorp, Inc. has a 52 week low of $27.36 and a 52 week high of $47.71. The stock has a market cap of $5.00 billion, a PE ratio of 25.19 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 (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $306.04 million during the quarter, compared to the consensus estimate of $204.43 million. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. During the same period in the previous year, the firm posted $0.50 earnings per share. Equities research analysts predict that Glacier Bancorp, Inc. will post 1.62 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

Analysts Set New Price Targets

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