Glacier Bancorp (NASDAQ:GBCI) CEO Acquires $99,697.67 in Stock

Glacier Bancorp, Inc. (NASDAQ:GBCI) CEO Randall Chesler acquired 2,437 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were acquired at an average price of $40.91 per share, for a total transaction of $99,697.67. Following the acquisition, the chief executive officer directly owned 7,422 shares in the company, valued at $303,634.02. This represents a 48.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $42.58 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 25.50 and a beta of 0.83. The business has a 50 day simple moving average of $46.52 and a 200 day simple moving average of $44.70. Glacier Bancorp, Inc. has a 52-week low of $36.76 and a 52-week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 16th. The bank reported $0.57 earnings per share 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 in the prior year, the business posted $0.46 earnings per share. Analysts anticipate 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, October 16th. Shareholders of record on Tuesday, October 7th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, October 7th. Glacier Bancorp’s dividend payout ratio is 64.71%.

Institutional Trading of Glacier Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Advisory Services LLC acquired a new position in Glacier Bancorp during the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its position in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the bank’s stock worth $31,000 after purchasing an additional 490 shares during the last quarter. eCIO Inc. bought a new stake in shares of Glacier Bancorp during the 1st quarter worth approximately $33,000. Mather Group LLC. acquired a new stake in shares of Glacier Bancorp in the 3rd quarter valued at approximately $35,000. Finally, UMB Bank n.a. boosted its holdings in shares of Glacier Bancorp by 56.1% in the 2nd quarter. UMB Bank n.a. now owns 1,308 shares of the bank’s stock valued at $56,000 after buying an additional 470 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Raymond James Financial cut their price target on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Keefe, Bruyette & Woods dropped their target price on 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. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $50.00 price target 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 issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.40.

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.