Bank of New York Mellon Corp Raises Position in Glacier Bancorp, Inc. $GBCI

Bank of New York Mellon Corp lifted its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,175,501 shares of the bank’s stock after acquiring an additional 2,742 shares during the quarter. Bank of New York Mellon Corp’s holdings in Glacier Bancorp were worth $50,641,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GBCI. Teacher Retirement System of Texas purchased a new stake in Glacier Bancorp in the 1st quarter valued at approximately $733,000. Envestnet Asset Management Inc. lifted its holdings in shares of Glacier Bancorp by 3.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 189,263 shares of the bank’s stock valued at $8,369,000 after buying an additional 6,806 shares during the period. State of Michigan Retirement System boosted its stake in shares of Glacier Bancorp by 1.1% in the first quarter. State of Michigan Retirement System now owns 27,136 shares of the bank’s stock valued at $1,200,000 after buying an additional 300 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings 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 worth $1,406,000 after acquiring an additional 300 shares during the period. Finally, CWM LLC raised its position in Glacier Bancorp by 0.7% in the first quarter. CWM LLC now owns 39,635 shares of the bank’s stock worth $1,753,000 after acquiring an additional 285 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their target price on shares of 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. Raymond James Financial reduced their price objective on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Finally, Piper Sandler restated a “neutral” rating and set a $50.00 target price on shares of Glacier Bancorp in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Glacier Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $50.40.

Insider Buying and Selling

In related news, CEO Randall M. Chesler purchased 2,437 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was bought at an average cost of $40.91 per share, with a total value of $99,697.67. Following the completion of the acquisition, the chief executive officer directly owned 7,422 shares in the company, valued at $303,634.02. The trade was a 48.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lee Kenneth Groom acquired 2,425 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average cost of $41.26 per share, for a total transaction of $100,055.50. Following the purchase, the insider owned 14,343 shares of the company’s stock, valued at approximately $591,792.18. The trade was a 20.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 8,852 shares of company stock valued at $364,484. 0.53% of the stock is currently owned by company insiders.

Glacier Bancorp Trading Up 0.3%

NASDAQ:GBCI opened at $42.57 on Wednesday. Glacier Bancorp, Inc. has a 52-week low of $36.76 and a 52-week high of $60.67. 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 stock has a fifty day simple moving average of $46.26 and a 200-day simple moving average of $44.76. The company has a market capitalization of $5.53 billion, a PE ratio of 25.49 and a beta of 0.83.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data 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 quarter last year, the firm earned $0.46 earnings per share. On average, equities research analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Tuesday, October 7th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, October 7th. Glacier Bancorp’s dividend payout ratio (DPR) is 64.71%.

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.