KBC Group NV Acquires 63,708 Shares of Glacier Bancorp, Inc. $GBCI

KBC Group NV lifted its holdings in shares of Glacier Bancorp, Inc. (NYSE:GBCI) by 1,740.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,369 shares of the company’s stock after purchasing an additional 63,708 shares during the quarter. KBC Group NV owned approximately 0.05% of Glacier Bancorp worth $3,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Root Financial Partners LLC increased its position in Glacier Bancorp by 122.5% during the first quarter. Root Financial Partners LLC now owns 652 shares of the company’s stock worth $29,000 after buying an additional 359 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Glacier Bancorp during the 4th quarter worth about $31,000. EverSource Wealth Advisors LLC increased its holdings in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock valued at $31,000 after acquiring an additional 490 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Glacier Bancorp by 41.2% during the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock valued at $34,000 after acquiring an additional 223 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Glacier Bancorp in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Stock Down 0.6%

GBCI opened at $50.32 on Friday. The business has a 50 day moving average of $49.70 and a 200-day moving average of $48.33. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 20.62 and a beta of 0.72. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Glacier Bancorp, Inc. has a 1-year low of $39.90 and a 1-year high of $54.58.

Glacier Bancorp (NYSE:GBCI) last announced its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. The business had revenue of $320.94 million for the quarter. Glacier Bancorp had a net margin of 19.72% and a return on equity of 8.12%. During the same period last year, the firm posted $0.57 EPS. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 3.16 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. Glacier Bancorp’s payout ratio is presently 61.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GBCI. DA Davidson upped their target price on Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Stephens boosted their price objective on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Glacier Bancorp in a report on Monday. Finally, Piper Sandler lifted their target price on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.17.

Glacier Bancorp 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.