Key Points
- Glacier Bancorp Chairman Craig Langel purchased 2,250 shares at an average price of $47.04, investing $105,840 and increasing his direct stake by 2.33% to 98,684 shares.
- The bank reported quarterly EPS of $0.76, matching analyst estimates, on $320.94 million in revenue. It also maintains a quarterly dividend of $0.33, equivalent to a 2.9% annual yield.
- Analysts give Glacier Bancorp a “Moderate Buy” consensus rating with an average price target of $55.17, while institutional investors own 80.17% of the company’s stock.
Glacier Bancorp, Inc. (NYSE:GBCI - Get Free Report) Chairman Craig Langel purchased 2,250 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average price of $47.04 per share, for a total transaction of $105,840.00. Following the acquisition, the chairman directly owned 98,684 shares in the company, valued at $4,642,095.36. This trade represents a 2.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Glacier Bancorp Stock Down 1.2%
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 company has a fifty day moving average of $50.10 and a two-hundred day moving average of $48.23. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 18.98 and a beta of 0.74. Glacier Bancorp, Inc. has a 52 week low of $39.90 and a 52 week high of $54.58.
Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, meeting the consensus estimate 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 7.97%. During the same period in the prior year, the company posted $0.57 EPS. On average, analysts predict that Glacier Bancorp, Inc. will post 3.11 earnings per share for the current year.
Glacier Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp's dividend payout ratio is 54.10%.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Weiss Ratings raised Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. DA Davidson reissued a "buy" rating and set a $58.00 price target on shares of Glacier Bancorp in a research note on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $55.17.
Check Out Our Latest Stock Analysis on Glacier Bancorp
Hedge Funds Weigh In On Glacier Bancorp
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Glacier Bancorp during the second quarter valued at approximately $913,766,000. California State Teachers Retirement System grew its stake in Glacier Bancorp by 4,950.7% in the second quarter. California State Teachers Retirement System now owns 7,720,185 shares of the company's stock worth $398,207,000 after purchasing an additional 7,567,330 shares in the last quarter. Norges Bank purchased a new position in Glacier Bancorp during the 4th quarter worth $67,582,000. Bank of America Corp DE purchased a new position in Glacier Bancorp during the 2nd quarter worth $62,719,000. Finally, Madison Asset Management LLC purchased a new position in Glacier Bancorp during the 2nd quarter worth $59,048,000. 80.17% of the stock is owned by hedge funds and other institutional investors.
Glacier Bancorp Company Profile
(
Get Free Report)
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.
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