Oak Ridge Investments LLC Purchases Shares of 57,455 Glacier Bancorp, Inc. $GBCI

Oak Ridge Investments LLC purchased a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the third quarter, HoldingsChannel.com reports. The fund purchased 57,455 shares of the bank’s stock, valued at approximately $2,796,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Evergreen Capital Management LLC purchased a new position in Glacier Bancorp during the 3rd quarter valued at about $305,000. Forum Financial Management LP purchased a new stake in Glacier Bancorp in the third quarter worth $224,000. State of Alaska Department of Revenue raised its holdings in Glacier Bancorp by 30.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 17,252 shares of the bank’s stock worth $838,000 after purchasing an additional 3,981 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Glacier Bancorp by 9.1% during the 3rd quarter. Peregrine Capital Management LLC now owns 231,521 shares of the bank’s stock valued at $11,268,000 after purchasing an additional 19,379 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Glacier Bancorp by 65.6% during the third quarter. SG Americas Securities LLC now owns 333,147 shares of the bank’s stock valued at $16,214,000 after buying an additional 132,028 shares during the period. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Trading Down 1.1%

Glacier Bancorp stock opened at $47.87 on Friday. Glacier Bancorp, Inc. has a 12 month low of $36.76 and a 12 month high of $52.63. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 28.66 and a beta of 0.75. The business’s fifty day simple moving average is $44.11 and its two-hundred day simple moving average is $45.49. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

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

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, December 9th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, December 9th. Glacier Bancorp’s dividend payout ratio is currently 64.71%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on GBCI. Keefe, Bruyette & Woods upgraded shares of Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a report on Monday, December 15th. Piper Sandler upgraded Glacier Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $50.00 to $58.00 in a report on Thursday, December 18th. DA Davidson reissued a “buy” rating and set a $58.00 price objective on shares of Glacier Bancorp in a research report on Wednesday, November 12th. Finally, Raymond James Financial reduced their target price on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $53.60.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.