Swiss National Bank Sells 3,400 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Swiss National Bank lowered its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 219,621 shares of the bank’s stock after selling 3,400 shares during the period. Swiss National Bank’s holdings in Glacier Bancorp were worth $9,712,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wood Tarver Financial Group LLC bought a new position in shares of Glacier Bancorp in the fourth quarter valued at approximately $33,000. JNBA Financial Advisors bought a new position in shares of Glacier Bancorp in the first quarter valued at approximately $35,000. UMB Bank n.a. raised its stake in shares of Glacier Bancorp by 114.9% in the first quarter. UMB Bank n.a. now owns 838 shares of the bank’s stock valued at $37,000 after acquiring an additional 448 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Glacier Bancorp by 252.1% in the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank’s stock valued at $62,000 after acquiring an additional 1,001 shares during the last quarter. Finally, Bridge Generations Wealth Management LLC bought a new position in shares of Glacier Bancorp in the fourth quarter valued at approximately $70,000. Institutional investors own 80.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, July 28th. Janney Montgomery Scott upgraded shares of Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Thursday, June 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Glacier Bancorp from $50.00 to $52.00 and gave the stock a “market perform” rating in a research report on Friday, June 27th. Raymond James Financial restated an “outperform” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Finally, DA Davidson restated a “buy” rating and issued a $50.00 price objective on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Glacier Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Insider Activity at Glacier Bancorp

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $44.24, for a total transaction of $35,392.00. Following the completion of the sale, the insider owned 11,918 shares in the company, valued at approximately $527,252.32. The trade was a 6.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

Glacier Bancorp Price Performance

GBCI opened at $45.32 on Friday. The company has a fifty day moving average price of $44.29 and a two-hundred day moving average price of $44.13. The firm has a market capitalization of $5.37 billion, a PE ratio of 27.14 and a beta of 0.79. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $60.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the prior year, the firm posted $0.39 EPS. As a group, analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. Glacier Bancorp’s payout ratio is presently 68.75%.

About Glacier Bancorp

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.