Glacier Bancorp, Inc. $GBCI Shares Acquired by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey boosted its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 5.0% during the 2nd quarter, Holdings Channel reports. The fund owned 25,720 shares of the bank’s stock after acquiring an additional 1,215 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Glacier Bancorp were worth $1,108,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GBCI. Janney Montgomery Scott LLC increased its position in shares of Glacier Bancorp by 1.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 12,630 shares of the bank’s stock valued at $544,000 after purchasing an additional 240 shares during the last quarter. AlphaQuest LLC grew its stake in shares of Glacier Bancorp by 9.5% during the second quarter. AlphaQuest LLC now owns 3,001 shares of the bank’s stock worth $129,000 after purchasing an additional 260 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Glacier Bancorp by 1.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,578 shares of the bank’s stock worth $800,000 after purchasing an additional 331 shares in the last quarter. Securian Asset Management Inc. increased its holdings in Glacier Bancorp by 5.2% in the second quarter. Securian Asset Management Inc. now owns 9,015 shares of the bank’s stock valued at $388,000 after buying an additional 443 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Glacier Bancorp by 56.1% in the second 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 in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GBCI shares. Raymond James Financial lowered their price objective on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Piper Sandler restated a “neutral” rating and set a $50.00 price objective on shares of Glacier Bancorp in a research report on Monday, October 20th. DA Davidson restated a “buy” rating and issued a $58.00 target price on shares of Glacier Bancorp in a report on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Glacier Bancorp from $56.00 to $55.00 and set a “market perform” rating on the stock in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Glacier Bancorp Price Performance

GBCI stock opened at $42.17 on Friday. The company has a market capitalization of $5.48 billion, a P/E ratio of 25.25 and a beta of 0.83. The business has a 50 day simple moving average of $45.04 and a 200-day simple moving average of $44.72. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a twelve month low of $36.76 and a twelve month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, October 16th. The bank reported $0.57 EPS 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 last year, the business earned $0.46 earnings per share. As a group, equities analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Tuesday, December 9th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $1.32 annualized dividend and a yield of 3.1%. Glacier Bancorp’s dividend payout ratio is currently 64.71%.

Insider Buying and Selling

In related news, CEO Randall M. Chesler purchased 2,437 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average cost of $40.91 per share, with a total value of $99,697.67. Following the completion of the acquisition, the chief executive officer directly owned 7,422 shares in the company, valued at $303,634.02. This trade represents a 48.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lee Kenneth Groom acquired 2,425 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average price of $41.26 per share, for a total transaction of $100,055.50. Following the completion of the transaction, the insider owned 14,343 shares in the company, valued at $591,792.18. The trade was a 20.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 8,852 shares of company stock valued at $364,484 over the last 90 days. Insiders own 0.53% of the company’s stock.

Glacier Bancorp 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.