Dynamic Technology Lab Private Ltd Buys 27,146 Shares of Glacier Bancorp, Inc. $GBCI

Dynamic Technology Lab Private Ltd increased its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 681.9% in the first quarter, Holdings Channel.com reports. The fund owned 31,127 shares of the bank’s stock after purchasing an additional 27,146 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Glacier Bancorp were worth $1,376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GBCI. CWM LLC lifted its position in Glacier Bancorp by 0.7% during the first quarter. CWM LLC now owns 39,635 shares of the bank’s stock valued at $1,753,000 after purchasing an additional 285 shares during the last quarter. State of Michigan Retirement System lifted its position in Glacier Bancorp by 1.1% during the first quarter. State of Michigan Retirement System now owns 27,136 shares of the bank’s stock valued at $1,200,000 after purchasing an additional 300 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Glacier Bancorp by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the bank’s stock valued at $1,406,000 after purchasing an additional 300 shares during the last quarter. Moody National Bank Trust Division lifted its position in Glacier Bancorp by 1.5% during the first quarter. Moody National Bank Trust Division now owns 22,379 shares of the bank’s stock valued at $990,000 after purchasing an additional 339 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Glacier Bancorp by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 13,286 shares of the bank’s stock valued at $587,000 after purchasing an additional 360 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GBCI shares. Keefe, Bruyette & Woods increased their price objective on shares of Glacier Bancorp from $52.00 to $55.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Piper Sandler increased their price objective on shares of Glacier Bancorp from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. DA Davidson reiterated a “buy” rating and set a $50.00 price objective on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Raymond James Financial reiterated an “outperform” rating and set a $48.00 price objective (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.50.

Insider Buying and Selling at Glacier Bancorp

In related news, insider Lee Kenneth Groom sold 800 shares of the firm’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $44.24, for a total value of $35,392.00. Following the transaction, the insider owned 11,918 shares of the company’s stock, valued at $527,252.32. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Glacier Bancorp Trading Down 0.3%

Shares of GBCI opened at $49.59 on Monday. Glacier Bancorp, Inc. has a twelve month low of $36.76 and a twelve month high of $60.67. The company has a market cap of $5.88 billion, a P/E ratio of 29.69 and a beta of 0.82. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $46.15 and its 200-day simple moving average is $43.85.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share 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 previous year, the company posted $0.39 earnings per share. As a group, analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. Glacier Bancorp’s dividend payout ratio is currently 68.75%.

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.