Ryan Thomas Screnar Buys 979 Shares of Glacier Bancorp (NASDAQ:GBCI) Stock

Glacier Bancorp, Inc. (NASDAQ:GBCI) insider Ryan Thomas Screnar purchased 979 shares of the stock in a transaction dated Thursday, November 6th. The shares were purchased at an average cost of $41.88 per share, for a total transaction of $41,000.52. Following the transaction, the insider owned 10,842 shares in the company, valued at approximately $454,062.96. The trade was a 9.93% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Glacier Bancorp Trading Down 1.1%

NASDAQ GBCI traded down $0.45 during trading hours on Thursday, reaching $41.47. The company had a trading volume of 531,866 shares, compared to its average volume of 768,947. The stock has a 50-day moving average of $46.80 and a 200 day moving average of $44.70. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $4.92 billion, a P/E ratio of 24.80 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last posted its 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 quarter last year, the firm posted $0.46 earnings per share. As a group, research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share 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 paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, October 7th. This represents a $1.32 dividend on an annualized basis and a yield of 3.2%. Glacier Bancorp’s dividend payout ratio is 64.71%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GBCI. Piper Sandler reiterated a “neutral” rating and set a $50.00 price target on shares of Glacier Bancorp in a research note on Monday, October 20th. Raymond James Financial cut their price target on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Glacier Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.40.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Glacier Bancorp during the second quarter worth $54,144,000. Balyasny Asset Management L.P. purchased a new position in Glacier Bancorp in the second quarter worth $24,362,000. Voya Investment Management LLC raised its position in Glacier Bancorp by 1,653.0% in the third quarter. Voya Investment Management LLC now owns 540,871 shares of the bank’s stock worth $26,324,000 after acquiring an additional 510,017 shares in the last quarter. Nuveen LLC purchased a new position in Glacier Bancorp in the first quarter worth $21,220,000. Finally, Lido Advisors LLC purchased a new position in Glacier Bancorp in the second quarter worth $17,651,000. 80.17% of the stock is owned by institutional investors and hedge funds.

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.