Craig Langel Purchases 2,250 Shares of Glacier Bancorp (NYSE:GBCI) Stock

Glacier Bancorp, Inc. (NYSE:GBCI) Chairman Craig Langel purchased 2,250 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were acquired at an average price of $47.04 per share, for a total transaction of $105,840.00. Following the purchase, the chairman owned 98,684 shares in the company, valued at $4,642,095.36. The trade was a 2.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Glacier Bancorp Stock Down 1.2%

Shares of Glacier Bancorp stock traded down $0.58 during midday trading on Monday, reaching $46.30. 995,192 shares of the company’s stock traded hands, compared to its average volume of 1,054,017. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84. Glacier Bancorp, Inc. has a 52 week low of $39.90 and a 52 week high of $54.58. The company’s 50 day simple moving average is $50.15 and its 200 day simple moving average is $48.27. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 18.98 and a beta of 0.74.

Glacier Bancorp (NYSE:GBCI) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. The firm had revenue of $320.94 million during the quarter. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. During the same quarter in the prior year, the company posted $0.57 earnings per share. Equities analysts expect that Glacier Bancorp, Inc. will post 3.11 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio is 54.10%.

Institutional Investors Weigh In On Glacier Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP increased its stake in shares of Glacier Bancorp by 16.1% in the second quarter. Corient Private Wealth LP now owns 83,737 shares of the company’s stock worth $4,319,000 after purchasing an additional 11,619 shares during the period. Amundi increased its position in Glacier Bancorp by 11.0% in the 2nd quarter. Amundi now owns 26,631 shares of the company’s stock worth $1,374,000 after buying an additional 2,633 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Glacier Bancorp in the 2nd quarter worth approximately $444,000. California State Teachers Retirement System lifted its holdings in shares of Glacier Bancorp by 4,950.7% during the second quarter. California State Teachers Retirement System now owns 7,720,185 shares of the company’s stock worth $398,207,000 after buying an additional 7,567,330 shares during the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of Glacier Bancorp by 35.6% in the second quarter. HB Wealth Management LLC now owns 6,305 shares of the company’s stock valued at $325,000 after acquiring an additional 1,655 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GBCI shares. DA Davidson reissued a “buy” rating and issued a $58.00 price objective on shares of Glacier Bancorp in a research note on Monday, July 27th. Weiss Ratings upgraded 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 issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average 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.