Ron Copher Purchases 2,400 Shares of Glacier Bancorp (NASDAQ:GBCI) Stock

Glacier Bancorp, Inc. (NASDAQ:GBCI) CFO Ron Copher acquired 2,400 shares of Glacier Bancorp stock in a transaction that occurred on Wednesday, November 5th. The shares were purchased at an average price of $41.17 per share, for a total transaction of $98,808.00. Following the completion of the purchase, the chief financial officer directly owned 96,626 shares of the company’s stock, valued at $3,978,092.42. The trade was a 2.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Glacier Bancorp Stock Down 1.5%

GBCI stock opened at $41.29 on Friday. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 24.73 and a beta of 0.83. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67. The firm has a fifty day moving average price of $46.65 and a two-hundred day moving average price of $44.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, October 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.05). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same quarter in the prior year, the company earned $0.46 earnings per share. Research analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Tuesday, October 7th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, October 7th. Glacier Bancorp’s payout ratio is presently 64.71%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GBCI. Raymond James Financial dropped their price target on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Keefe, Bruyette & Woods dropped their target price on Glacier Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research report on Monday, October 20th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $50.00 target price on shares of Glacier Bancorp in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Glacier Bancorp by 2.0% during the second quarter. Geode Capital Management LLC now owns 2,993,108 shares of the bank’s stock valued at $128,957,000 after purchasing an additional 59,421 shares during the period. Victory Capital Management Inc. grew its position in Glacier Bancorp by 9.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank’s stock valued at $60,198,000 after buying an additional 113,544 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Glacier Bancorp by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock valued at $59,799,000 after buying an additional 73,756 shares during the period. Deprince Race & Zollo Inc. increased its stake in Glacier Bancorp by 41.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 1,272,041 shares of the bank’s stock valued at $61,910,000 after buying an additional 373,196 shares during the period. Finally, Norges Bank bought a new stake in shares of Glacier Bancorp during the 2nd quarter worth about $54,144,000. Institutional investors own 80.17% of the company’s stock.

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.