Corient Private Wealth LP Takes Position in Glacier Bancorp, Inc. $GBCI

Corient Private Wealth LP acquired a new stake in Glacier Bancorp, Inc. (NYSE:GBCI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 83,739 shares of the company’s stock, valued at approximately $4,319,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in Glacier Bancorp in the 2nd quarter valued at about $62,719,000. Port Capital LLC purchased a new stake in shares of Glacier Bancorp during the 2nd quarter valued at approximately $26,206,000. Gallagher Fiduciary Advisors LLC acquired a new position in Glacier Bancorp in the second quarter valued at approximately $711,000. Man Group plc purchased a new position in Glacier Bancorp in the second quarter worth approximately $886,000. Finally, Jupiter Topco LLC purchased a new position in Glacier Bancorp in the second quarter worth approximately $48,377,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Stock Down 1.2%

Shares of NYSE GBCI opened at $46.30 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $50.10 and its two-hundred day moving average is $48.23. Glacier Bancorp, Inc. has a 52-week low of $39.90 and a 52-week high of $54.58. The firm 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 released its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $320.94 million during the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same quarter in the prior year, the business earned $0.57 earnings per share. Research analysts predict that Glacier Bancorp, Inc. will post 3.11 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio (DPR) is 54.10%.

Analyst Upgrades and Downgrades

GBCI has been the topic of several recent analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $58.00 price target on shares of Glacier Bancorp in a research note on Monday, July 27th. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Glacier Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $55.17.

Insiders Place Their Bets

In other news, Chairman Craig A. Langel bought 2,250 shares of the company’s stock in a transaction on Friday, August 28th. The stock was bought at an average cost of $47.04 per share, with a total value of $105,840.00. Following the transaction, the chairman directly owned 98,684 shares in the company, valued at $4,642,095.36. The trade was a 2.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

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.