Praetorian Wealth Management Inc. Purchases New Shares in Glacier Bancorp, Inc. $GBCI

Praetorian Wealth Management Inc. purchased a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 17,352 shares of the bank’s stock, valued at approximately $748,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hedges Asset Management LLC grew its stake in Glacier Bancorp by 1.8% in the 2nd quarter. Hedges Asset Management LLC now owns 290,223 shares of the bank’s stock valued at $12,503,000 after acquiring an additional 5,000 shares during the period. eCIO Inc. acquired a new stake in Glacier Bancorp during the 1st quarter worth $33,000. Strs Ohio acquired a new stake in Glacier Bancorp during the 1st quarter worth $482,000. Intech Investment Management LLC boosted its stake in Glacier Bancorp by 32.5% during the 1st quarter. Intech Investment Management LLC now owns 76,865 shares of the bank’s stock worth $3,399,000 after purchasing an additional 18,874 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Glacier Bancorp by 464.3% during the 1st quarter. Jane Street Group LLC now owns 287,773 shares of the bank’s stock worth $12,725,000 after purchasing an additional 236,781 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 1.0%

NASDAQ GBCI opened at $47.65 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $60.67. The stock has a market capitalization of $5.65 billion, a PE ratio of 28.53 and a beta of 0.82. The firm has a 50 day moving average of $46.53 and a two-hundred day moving average of $43.91.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the previous year, the business earned $0.39 earnings per share. As a group, research analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp’s dividend payout ratio is currently 68.75%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 target price (up previously from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. DA Davidson reiterated a “buy” rating and set a $50.00 price target on shares of Glacier Bancorp in a report on Wednesday, June 25th. Piper Sandler lifted their price target on Glacier Bancorp from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Janney Montgomery Scott upgraded Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Thursday, June 5th. Finally, Keefe, Bruyette & Woods lifted their price target on Glacier Bancorp from $52.00 to $55.00 and gave the stock a “market perform” rating in a report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Glacier Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Insider Buying and Selling

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $44.24, for a total value of $35,392.00. Following the transaction, the insider directly owned 11,918 shares in the company, valued at $527,252.32. This represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.

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.