Keeley Teton Advisors LLC Acquires 2,198 Shares of Glacier Bancorp, Inc. $GBCI

Keeley Teton Advisors LLC lifted its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 36.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,241 shares of the bank’s stock after purchasing an additional 2,198 shares during the period. Keeley Teton Advisors LLC’s holdings in Glacier Bancorp were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GBCI. Northern Trust Corp lifted its stake in shares of Glacier Bancorp by 7.7% during the 4th quarter. Northern Trust Corp now owns 1,763,983 shares of the bank’s stock valued at $88,587,000 after buying an additional 126,316 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Glacier Bancorp by 9.1% during the first quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank’s stock valued at $60,198,000 after acquiring an additional 113,544 shares during the period. Madison Asset Management LLC lifted its position in shares of Glacier Bancorp by 9.5% in the first quarter. Madison Asset Management LLC now owns 1,041,736 shares of the bank’s stock valued at $46,066,000 after acquiring an additional 90,512 shares in the last quarter. Millennium Management LLC lifted its position in shares of Glacier Bancorp by 4,600.1% in the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank’s stock valued at $47,010,000 after acquiring an additional 916,163 shares in the last quarter. Finally, Port Capital LLC boosted its stake in shares of Glacier Bancorp by 3.1% in the fourth quarter. Port Capital LLC now owns 680,613 shares of the bank’s stock worth $34,180,000 after acquiring an additional 20,700 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI opened at $48.63 on Thursday. The firm has a fifty day simple moving average of $45.15 and a two-hundred day simple moving average of $43.99. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $60.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $5.77 billion, a P/E ratio of 29.12 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the company posted $0.39 earnings per share. On average, analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were issued a $0.33 dividend. The ex-dividend date was Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. Glacier Bancorp’s payout ratio is 68.75%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Raymond James Financial reissued 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 objective on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Keefe, Bruyette & Woods upped their target price on shares of Glacier Bancorp from $50.00 to $52.00 and gave the stock a “market perform” rating in a research report on Friday, June 27th. Piper Sandler raised their target price on shares of Glacier Bancorp from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, Janney Montgomery Scott upgraded shares of Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Thursday, June 5th. One research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.00.

Insider Activity at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $44.24, for a total transaction of $35,392.00. Following the transaction, the insider owned 11,918 shares of the company’s stock, valued at approximately $527,252.32. The trade was a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

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.