Front Street Capital Management Inc. Takes $986,000 Position in Glacier Bancorp, Inc. $GBCI

Front Street Capital Management Inc. purchased 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 & Exchange Commission. The firm purchased 19,122 shares of the company’s stock, valued at approximately $986,000.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Glacier Bancorp by 30.9% during the first quarter. AQR Capital Management LLC now owns 31,176 shares of the company’s stock valued at $1,358,000 after acquiring an additional 7,359 shares during the period. Goldman Sachs Group Inc. raised its holdings in Glacier Bancorp by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the company’s stock worth $59,799,000 after purchasing an additional 73,756 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Glacier Bancorp by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the company’s stock valued at $15,587,000 after purchasing an additional 26,157 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock valued at $31,000 after purchasing an additional 490 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Glacier Bancorp during the second quarter worth approximately $2,011,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 1.0%

Shares of NYSE:GBCI opened at $46.77 on Tuesday. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 19.17 and a beta of 0.74. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. Glacier Bancorp, Inc. has a 12 month low of $39.90 and a 12 month high of $54.58. The company’s fifty day simple moving average is $50.26 and its 200 day simple moving average is $48.43.

Glacier Bancorp (NYSE:GBCI) last released its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. The firm 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 last year, the company posted $0.57 EPS. As a group, research analysts forecast that Glacier Bancorp, Inc. will post 3.11 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th were paid a $0.33 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 annualized dividend and a yield of 2.8%. Glacier Bancorp’s payout ratio is presently 54.10%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. DA Davidson reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Glacier Bancorp in a research note on Monday, July 27th. Weiss Ratings raised Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Piper Sandler boosted their target price on Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Stephens upped their price target on Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.17.

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.