Glacier Bancorp (NASDAQ:GBCI) CEO Buys $99,697.67 in Stock

Glacier Bancorp, Inc. (NASDAQ:GBCI) CEO Randall Chesler acquired 2,437 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were acquired at an average cost of $40.91 per share, with a total value of $99,697.67. Following the completion of the purchase, the chief executive officer owned 7,422 shares in the company, valued at approximately $303,634.02. This represents a 48.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Glacier Bancorp Price Performance

Shares of GBCI traded up $1.62 during mid-day trading on Wednesday, reaching $42.49. 523,464 shares of the company’s stock were exchanged, compared to its average volume of 766,370. 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 company has a 50-day simple moving average of $46.94 and a two-hundred day simple moving average of $44.72. Glacier Bancorp, Inc. has a 52-week low of $36.76 and a 52-week high of $60.67. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 25.53 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 16th. The bank reported $0.57 EPS 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 previous year, the firm earned $0.46 earnings per share. On average, sell-side analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Tuesday, October 7th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, October 7th. Glacier Bancorp’s payout ratio is presently 64.71%.

Analysts Set New Price Targets

Several analysts have commented on GBCI shares. Raymond James Financial lowered 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 note 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 for the company in a research note on Monday, October 20th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Glacier Bancorp in a research note on Monday, October 20th. One 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, Glacier Bancorp currently has an average rating of “Moderate Buy” and an average price target of $50.40.

Institutional Trading of Glacier Bancorp

Institutional investors have recently made changes to their positions in the stock. Ameritas Advisory Services LLC acquired a new position in shares of Glacier Bancorp during the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the bank’s stock valued at $31,000 after acquiring an additional 490 shares in the last quarter. eCIO Inc. acquired a new position in shares of Glacier Bancorp during the 1st quarter valued at $33,000. Mather Group LLC. acquired a new position in shares of Glacier Bancorp during the 3rd quarter valued at $35,000. Finally, UMB Bank n.a. lifted its holdings in shares of Glacier Bancorp by 56.1% during the 2nd quarter. UMB Bank n.a. now owns 1,308 shares of the bank’s stock valued at $56,000 after acquiring an additional 470 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

About Glacier Bancorp

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.