Mattern Wealth Management LLC Has $626,000 Position in Glacier Bancorp, Inc. $GBCI

Mattern Wealth Management LLC lessened its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,531 shares of the bank’s stock after selling 235 shares during the quarter. Mattern Wealth Management LLC’s holdings in Glacier Bancorp were worth $626,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. First Interstate Bank bought a new stake in shares of Glacier Bancorp during the first quarter worth about $593,000. Bessemer Group Inc. boosted its stake in Glacier Bancorp by 1,839.2% during the 1st quarter. Bessemer Group Inc. now owns 9,599 shares of the bank’s stock valued at $424,000 after purchasing an additional 9,104 shares during the last quarter. GAMMA Investing LLC boosted its stake in Glacier Bancorp by 4,580.7% during the 1st quarter. GAMMA Investing LLC now owns 142,388 shares of the bank’s stock valued at $6,296,000 after purchasing an additional 139,346 shares during the last quarter. Empower Advisory Group LLC bought a new stake in Glacier Bancorp during the 1st quarter worth approximately $864,000. Finally, Royal Bank of Canada raised its stake in shares of Glacier Bancorp by 6.8% in the first quarter. Royal Bank of Canada now owns 383,150 shares of the bank’s stock worth $16,942,000 after purchasing an additional 24,398 shares during the last quarter. 80.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on GBCI. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 target price (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Piper Sandler lifted their price objective on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a “neutral” rating in a 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 target price for the company in a report on Thursday, June 5th. Keefe, Bruyette & Woods raised their price target 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. Finally, DA Davidson restated a “buy” rating and set a $50.00 price target on shares of Glacier Bancorp in a report on Wednesday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Glacier Bancorp has an average rating of “Moderate Buy” and an average target price of $50.50.

Glacier Bancorp Trading Down 1.4%

Shares of Glacier Bancorp stock opened at $49.22 on Tuesday. The firm has a market cap of $5.84 billion, a PE ratio of 29.47 and a beta of 0.82. Glacier Bancorp, Inc. has a 1 year low of $36.76 and a 1 year high of $60.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a fifty day moving average price of $47.17 and a 200-day moving average price of $44.14.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly 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 prior year, the business posted $0.39 EPS. Equities research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, October 7th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, October 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 68.75%.

Insider Activity at Glacier Bancorp

In related news, insider Lee Kenneth Groom sold 800 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was 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 in the company, valued at approximately $527,252.32. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Glacier Bancorp 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.