Bayforest Capital Ltd Purchases 4,331 Shares of Glacier Bancorp, Inc. $GBCI

Bayforest Capital Ltd increased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2,446.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,508 shares of the bank’s stock after acquiring an additional 4,331 shares during the period. Bayforest Capital Ltd’s holdings in Glacier Bancorp were worth $194,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in shares of Glacier Bancorp in the second quarter worth $26,000. eCIO Inc. bought a new stake in shares of Glacier Bancorp in the first quarter worth $33,000. JNBA Financial Advisors bought a new stake in shares of Glacier Bancorp in the first quarter worth $35,000. UMB Bank n.a. grew its holdings in shares of Glacier Bancorp by 56.1% in the second quarter. UMB Bank n.a. now owns 1,308 shares of the bank’s stock worth $56,000 after acquiring an additional 470 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings 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 worth $62,000 after acquiring an additional 1,001 shares during the period. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

NASDAQ:GBCI opened at $45.03 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The business’s 50-day simple moving average is $47.94 and its two-hundred day simple moving average is $44.40. The stock has a market cap of $5.34 billion, a PE ratio of 26.96 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.

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

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Tuesday, October 7th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. Glacier Bancorp’s dividend payout ratio (DPR) is currently 68.75%.

Analysts Set New Price Targets

Several brokerages recently commented on GBCI. Raymond James Financial set a $55.00 price objective on Glacier Bancorp and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Piper Sandler raised their target price on Glacier Bancorp from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. DA Davidson reaffirmed a “buy” rating and issued a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday, June 25th. Finally, Keefe, Bruyette & Woods raised their target price on Glacier Bancorp from $52.00 to $55.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.67.

Insider Buying and Selling

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $44.24, for a total transaction of $35,392.00. Following the sale, the insider directly owned 11,918 shares of the company’s stock, valued at $527,252.32. This trade represents a 6.29% decrease 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. 0.53% of the stock is currently owned by corporate insiders.

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.