Fisher Asset Management LLC Decreases Stock Holdings in Glacier Bancorp, Inc. $GBCI

Fisher Asset Management LLC lowered its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6.1% during the second quarter, Holdings Channel.com reports. The fund owned 904,179 shares of the bank’s stock after selling 58,276 shares during the quarter. Fisher Asset Management LLC’s holdings in Glacier Bancorp were worth $38,952,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GBCI. Ameritas Advisory Services LLC purchased a new position in Glacier Bancorp during the second quarter valued at $26,000. eCIO Inc. acquired a new position in shares of Glacier Bancorp during the 1st quarter worth about $33,000. UMB Bank n.a. lifted its stake in Glacier Bancorp by 56.1% in the 2nd 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. AlphaQuest LLC acquired a new stake in Glacier Bancorp in the 1st quarter worth about $121,000. Finally, Bayforest Capital Ltd increased its stake in Glacier Bancorp by 2,446.9% during the 2nd quarter. Bayforest Capital Ltd now owns 4,508 shares of the bank’s stock worth $194,000 after buying an additional 4,331 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Glacier Bancorp news, CEO Randall M. Chesler purchased 2,437 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were acquired at an average price of $40.91 per share, with a total value of $99,697.67. Following the purchase, the chief executive officer directly owned 7,422 shares in the company, valued at approximately $303,634.02. This trade represents a 48.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan Thomas Screnar purchased 979 shares of the stock in a transaction dated Thursday, November 6th. The shares were acquired at an average price of $41.88 per share, with a total value of $41,000.52. Following the completion of the acquisition, the insider owned 10,842 shares in the company, valued at approximately $454,062.96. This trade represents a 9.93% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 8,852 shares of company stock worth $364,484 in the last 90 days. 0.53% of the stock is owned by corporate insiders.

Glacier Bancorp Stock Down 1.1%

Shares of NASDAQ:GBCI opened at $42.56 on Wednesday. Glacier Bancorp, Inc. has a 52-week low of $36.76 and a 52-week high of $58.29. The stock has a market cap of $5.53 billion, a P/E ratio of 25.49 and a beta of 0.83. The business has a fifty day moving average of $44.14 and a two-hundred day moving average of $44.74. 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 (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 16th. The bank reported $0.57 earnings per share for the quarter, missing the consensus estimate 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 firm posted $0.46 EPS. On average, research analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

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

Analyst Ratings Changes

GBCI has been the topic of several research reports. DA Davidson restated a “buy” rating and issued a $58.00 target price on shares of Glacier Bancorp in a research report on Wednesday, November 12th. Piper Sandler restated a “neutral” rating and issued a $50.00 price objective on shares of Glacier Bancorp in a report on Monday, October 20th. Keefe, Bruyette & Woods lowered their target price 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. Finally, Raymond James Financial reduced their target price on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Glacier Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Glacier Bancorp Company 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.