Deprince Race & Zollo Inc. Grows Position in Glacier Bancorp, Inc. $GBCI

Deprince Race & Zollo Inc. boosted its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 41.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,272,041 shares of the bank’s stock after buying an additional 373,196 shares during the period. Glacier Bancorp makes up approximately 1.2% of Deprince Race & Zollo Inc.’s portfolio, making the stock its 15th biggest position. Deprince Race & Zollo Inc.’s holdings in Glacier Bancorp were worth $61,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in shares of Glacier Bancorp by 3.7% in the 1st quarter. HighTower Advisors LLC now owns 14,841 shares of the bank’s stock valued at $656,000 after acquiring an additional 534 shares during the period. Raymond James Financial Inc. raised its position in Glacier Bancorp by 3.0% in the first quarter. Raymond James Financial Inc. now owns 195,806 shares of the bank’s stock valued at $8,659,000 after purchasing an additional 5,765 shares during the period. AlphaQuest LLC acquired a new position in Glacier Bancorp during the first quarter worth $121,000. Jump Financial LLC purchased a new position in shares of Glacier Bancorp during the first quarter worth $203,000. Finally, Jane Street Group LLC boosted its position in shares of Glacier Bancorp by 464.3% during the first quarter. Jane Street Group LLC now owns 287,773 shares of the bank’s stock worth $12,725,000 after buying an additional 236,781 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $45.53 on Friday. The business has a 50-day simple moving average of $42.92 and a 200-day simple moving average of $45.06. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp, Inc. has a one year low of $36.76 and a one year high of $52.81. The company has a market cap of $5.92 billion, a PE ratio of 27.26 and a beta of 0.78.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, October 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.05). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same quarter in the previous year, the company posted $0.46 earnings per share. On average, equities research analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Tuesday, December 9th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.9%. Glacier Bancorp’s payout ratio is presently 64.71%.

Insiders Place Their Bets

In other Glacier Bancorp news, CFO Ron J. Copher acquired 2,400 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were acquired at an average price of $41.17 per share, for a total transaction of $98,808.00. Following the acquisition, the chief financial officer owned 96,626 shares in the company, valued at $3,978,092.42. The trade was a 2.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ryan Thomas Screnar bought 979 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were acquired at an average cost of $41.88 per share, for a total transaction of $41,000.52. Following the transaction, the insider directly owned 10,842 shares in the company, valued at approximately $454,062.96. This represents a 9.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 8,852 shares of company stock worth $364,484. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. DA Davidson reissued a “buy” rating and set a $58.00 target price on shares of Glacier Bancorp in a research note on Wednesday, November 12th. Keefe, Bruyette & Woods raised shares of Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 price target on the stock in a research report on Monday, December 15th. Raymond James Financial lowered their price objective on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Finally, Piper Sandler raised shares of Glacier Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $50.00 to $58.00 in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $53.60.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.