Don J. Chery Sells 1,000 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) Stock

Glacier Bancorp, Inc. (NASDAQ:GBCI) CAO Don J. Chery sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $45.49, for a total value of $45,490.00. Following the transaction, the chief accounting officer now directly owns 52,539 shares in the company, valued at $2,389,999.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Glacier Bancorp Stock Down 3.3 %

GBCI traded down $1.51 during trading on Monday, hitting $44.72. The company had a trading volume of 505,458 shares, compared to its average volume of 663,977. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp, Inc. has a 1-year low of $26.83 and a 1-year high of $46.78. The business has a 50-day moving average of $38.22 and a 200-day moving average of $38.21. The company has a market cap of $5.07 billion, a PE ratio of 26.42 and a beta of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $306.04 million for the quarter, compared to analyst estimates of $204.43 million. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. During the same quarter last year, the business earned $0.50 earnings per share. As a group, analysts forecast that Glacier Bancorp, Inc. will post 1.63 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.95%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

Institutional Investors Weigh In On Glacier Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP increased its stake in Glacier Bancorp by 409.4% during the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after buying an additional 479 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Glacier Bancorp during the first quarter worth approximately $25,000. GAMMA Investing LLC acquired a new stake in Glacier Bancorp in the fourth quarter worth approximately $25,000. Headlands Technologies LLC bought a new position in Glacier Bancorp during the 1st quarter valued at $50,000. Finally, Signaturefd LLC increased its position in shares of Glacier Bancorp by 51.9% during the 4th quarter. Signaturefd LLC now owns 3,727 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,274 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. DA Davidson reduced their target price on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Stephens cut their price objective on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 23rd. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Finally, Truist Financial lifted their target price on Glacier Bancorp from $38.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.25.

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.