Insider Buying: Glacier Bancorp (NYSE:GBCI) Chairman Buys $105,840.00 in Stock

Glacier Bancorp, Inc. (NYSE:GBCI) Chairman Craig Langel acquired 2,250 shares of Glacier Bancorp stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $47.04 per share, with a total value of $105,840.00. Following the acquisition, the chairman directly owned 98,684 shares of the company’s stock, valued at approximately $4,642,095.36. This trade represents a 2.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Glacier Bancorp Stock Performance

GBCI opened at $46.44 on Thursday. The business has a 50 day moving average price of $49.93 and a two-hundred day moving average price of $48.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 19.03 and a beta of 0.72. Glacier Bancorp, Inc. has a 1-year low of $39.90 and a 1-year high of $54.58.

Glacier Bancorp (NYSE:GBCI) last announced its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $320.94 million during the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same period in the prior year, the business earned $0.57 EPS. Research analysts predict that Glacier Bancorp, Inc. will post 3.11 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. Glacier Bancorp’s dividend payout ratio (DPR) is 54.10%.

Hedge Funds Weigh In On Glacier Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Glacier Bancorp by 30.9% during the first quarter. AQR Capital Management LLC now owns 31,176 shares of the company’s stock valued at $1,358,000 after buying an additional 7,359 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Glacier Bancorp by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the company’s stock valued at $59,799,000 after purchasing an additional 73,756 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Glacier Bancorp by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the company’s stock worth $15,587,000 after purchasing an additional 26,157 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Glacier Bancorp by 218.8% during the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock worth $31,000 after purchasing an additional 490 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Glacier Bancorp during the second quarter worth approximately $2,011,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on GBCI shares. DA Davidson reissued a “buy” rating and set a $58.00 target price on shares of Glacier Bancorp in a research note on Monday, July 27th. Weiss Ratings raised Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.