Campbell & CO Investment Adviser LLC Reduces Stake in Glacier Bancorp, Inc. $GBCI

Campbell & CO Investment Adviser LLC lowered its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 72.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 18,666 shares of the bank’s stock after selling 48,567 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Glacier Bancorp were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Moors & Cabot Inc. grew its holdings in Glacier Bancorp by 3.9% during the second quarter. Moors & Cabot Inc. now owns 28,590 shares of the bank’s stock valued at $1,232,000 after purchasing an additional 1,064 shares during the period. Bank of Montreal Can grew its stake in shares of Glacier Bancorp by 0.7% during the 2nd quarter. Bank of Montreal Can now owns 95,730 shares of the bank’s stock worth $4,124,000 after acquiring an additional 649 shares during the period. State of Michigan Retirement System grew its stake in shares of Glacier Bancorp by 4.8% during the 2nd quarter. State of Michigan Retirement System now owns 28,436 shares of the bank’s stock worth $1,225,000 after acquiring an additional 1,300 shares during the period. Amalgamated Bank increased its holdings in Glacier Bancorp by 2.5% in the 2nd quarter. Amalgamated Bank now owns 51,887 shares of the bank’s stock worth $2,235,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Atria Investments Inc raised its stake in Glacier Bancorp by 14.0% in the 2nd quarter. Atria Investments Inc now owns 18,833 shares of the bank’s stock valued at $811,000 after acquiring an additional 2,306 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

GBCI has been the subject of a number of research reports. DA Davidson reiterated a “buy” rating and set a $58.00 target price on shares of Glacier Bancorp in a research report on Wednesday. Keefe, Bruyette & Woods dropped 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. Piper Sandler reiterated a “neutral” rating and issued a $50.00 price objective on shares of Glacier Bancorp in a research note on Monday, October 20th. Finally, Raymond James Financial lowered their target price on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Insiders Place Their Bets

In other Glacier Bancorp news, CFO Ron J. Copher acquired 2,400 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was bought at an average price of $41.17 per share, with a total value of $98,808.00. Following the completion of the acquisition, the chief financial officer owned 96,626 shares of the company’s stock, valued at $3,978,092.42. This trade represents a 2.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ryan Thomas Screnar acquired 979 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average price of $41.88 per share, for a total transaction of $41,000.52. Following the completion of the transaction, the insider owned 10,842 shares of the company’s stock, valued at $454,062.96. The trade was a 9.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 8,852 shares of company stock worth $364,484. Insiders own 0.53% of the company’s stock.

Glacier Bancorp Stock Performance

Glacier Bancorp stock opened at $42.25 on Friday. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $5.49 billion, a PE ratio of 25.30 and a beta of 0.83. The firm’s 50 day simple moving average is $46.00 and its 200 day simple moving average is $44.74.

Glacier Bancorp (NASDAQ:GBCI) last released 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 return on equity of 5.98% and a net margin of 14.99%.During the same quarter in the prior year, the firm posted $0.46 earnings per share. As a group, analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

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

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.