Glacier Bancorp (NASDAQ:GBCI) Director Kristen Lee Heck Buys 611 Shares

Glacier Bancorp, Inc. (NASDAQ:GBCI) Director Kristen Lee Heck purchased 611 shares of the business’s stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $40.79 per share, with a total value of $24,922.69. Following the purchase, the director owned 10,536 shares in the company, valued at approximately $429,763.44. This represents a 6.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Glacier Bancorp Price Performance

GBCI stock opened at $40.85 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp, Inc. has a one year low of $36.76 and a one year high of $60.67. The stock has a market cap of $4.84 billion, a PE ratio of 24.46 and a beta of 0.79. The firm has a 50 day simple moving average of $46.94 and a two-hundred day simple moving average of $44.72.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data 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 net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Tuesday, October 7th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, October 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.2%. Glacier Bancorp’s dividend payout ratio is 64.71%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GBCI. Norges Bank bought a new position in Glacier Bancorp in the 2nd quarter worth $54,144,000. Balyasny Asset Management L.P. bought a new position in Glacier Bancorp in the 2nd quarter worth $24,362,000. Voya Investment Management LLC raised its holdings in Glacier Bancorp by 1,653.0% in the 3rd quarter. Voya Investment Management LLC now owns 540,871 shares of the bank’s stock worth $26,324,000 after purchasing an additional 510,017 shares in the last quarter. Nuveen LLC bought a new position in Glacier Bancorp in the 1st quarter worth $21,220,000. Finally, Lido Advisors LLC bought a new position in Glacier Bancorp in the 2nd quarter worth $17,651,000. 80.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GBCI has been the subject of a number of research reports. Raymond James Financial cut 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. Piper Sandler reiterated a “neutral” rating and set a $50.00 price target on shares of Glacier Bancorp in a report on Monday, October 20th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Glacier Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.40.

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.