Bank of Montreal Can Has $3.26 Million Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Bank of Montreal Can decreased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,273 shares of the bank’s stock after selling 7,018 shares during the quarter. Bank of Montreal Can owned approximately 0.08% of Glacier Bancorp worth $3,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new position in Glacier Bancorp during the 2nd quarter worth $548,000. Thrivent Financial for Lutherans increased its stake in shares of Glacier Bancorp by 2.9% in the second quarter. Thrivent Financial for Lutherans now owns 1,414,154 shares of the bank’s stock worth $52,776,000 after purchasing an additional 40,120 shares during the period. Sei Investments Co. lifted its position in shares of Glacier Bancorp by 123.9% during the 2nd quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock worth $12,393,000 after purchasing an additional 183,757 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Glacier Bancorp by 2.6% during the 2nd quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank’s stock worth $632,000 after purchasing an additional 427 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Glacier Bancorp during the 2nd quarter valued at approximately $207,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Trading Up 0.5 %

Shares of Glacier Bancorp stock opened at $44.29 on Thursday. Glacier Bancorp, Inc. has a 52-week low of $27.36 and a 52-week high of $47.71. The firm has a market capitalization of $5.02 billion, a PE ratio of 25.31 and a beta of 0.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. The company’s fifty day moving average price is $44.29 and its two-hundred day moving average price is $40.13.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share for the quarter, beating 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 net margin of 15.15% and a return on equity of 6.06%. During the same quarter in the previous year, the firm posted $0.50 earnings per share. On average, analysts expect that Glacier Bancorp, Inc. will post 1.62 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Tuesday, October 8th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio is 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 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 owns 9,402 shares in the company, valued at approximately $418,859.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Don J. Chery sold 1,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $45.49, for a total transaction of $45,490.00. Following the completion of the sale, the chief accounting officer now directly owns 52,539 shares of the company’s stock, valued at approximately $2,389,999.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Annie M. Goodwin sold 5,619 shares of the business’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 completion of the transaction, 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.

Analyst Ratings Changes

GBCI has been the subject of a number of research analyst reports. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a report on Thursday, June 6th. Truist Financial upped their target price on shares of Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Raymond James raised their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.20.

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.