AQR Capital Management LLC Grows Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

AQR Capital Management LLC increased its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 14.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,007 shares of the bank’s stock after purchasing an additional 1,627 shares during the period. AQR Capital Management LLC’s holdings in Glacier Bancorp were worth $476,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GBCI. Frank Rimerman Advisors LLC bought a new stake in Glacier Bancorp during the 2nd quarter valued at $548,000. Thrivent Financial for Lutherans lifted its stake in shares of Glacier Bancorp by 2.9% during the 2nd 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 last quarter. Sei Investments Co. boosted its position in Glacier Bancorp by 123.9% during the second quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock valued at $12,393,000 after purchasing an additional 183,757 shares in the last quarter. Pacer Advisors Inc. grew its stake in Glacier Bancorp by 2.6% in the second quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank’s stock valued at $632,000 after purchasing an additional 427 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Glacier Bancorp in the second quarter worth about $207,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Trading Up 1.1 %

NASDAQ:GBCI opened at $47.27 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. The firm has a fifty day simple moving average of $44.61 and a 200-day simple moving average of $40.55. Glacier Bancorp, Inc. has a 12 month low of $28.60 and a 12 month high of $47.71. The company has a market capitalization of $5.36 billion, a P/E ratio of 27.01 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data 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. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. The business had revenue of $306.04 million for the quarter, compared to analyst estimates of $204.43 million. During the same period in the prior year, the company earned $0.50 earnings per share. On average, equities research analysts anticipate that Glacier Bancorp, Inc. will post 1.63 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.79%. Glacier Bancorp’s payout ratio is currently 75.43%.

Insider Buying and Selling

In other Glacier Bancorp news, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Don J. Chery sold 1,000 shares of the firm’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 sale, the chief accounting officer now owns 52,539 shares in the company, valued at approximately $2,389,999.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Annie M. Goodwin sold 5,619 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the completion of the transaction, the director now owns 9,402 shares of the company’s stock, valued at approximately $418,859.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial raised 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. Raymond James upped their price target on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler reissued a “neutral” rating and issued a $38.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.20.

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.