Modern Wealth Management LLC Purchases New Shares in Glacier Bancorp, Inc. $GBCI

Modern Wealth Management LLC purchased a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 138,128 shares of the bank’s stock, valued at approximately $6,723,000. Modern Wealth Management LLC owned approximately 0.11% of Glacier Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GBCI. AQR Capital Management LLC grew its position in shares of Glacier Bancorp by 30.9% in the first quarter. AQR Capital Management LLC now owns 31,176 shares of the bank’s stock valued at $1,358,000 after purchasing an additional 7,359 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Glacier Bancorp by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock worth $59,799,000 after purchasing an additional 73,756 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Glacier Bancorp by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the bank’s stock worth $15,587,000 after purchasing an additional 26,157 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Glacier Bancorp by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 193,244 shares of the bank’s stock worth $8,325,000 after purchasing an additional 3,981 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Glacier Bancorp by 24.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 20,658 shares of the bank’s stock valued at $890,000 after buying an additional 4,080 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

NASDAQ:GBCI opened at $43.65 on Friday. The company has a market cap of $5.67 billion, a P/E ratio of 26.14 and a beta of 0.75. Glacier Bancorp, Inc. has a twelve month low of $36.76 and a twelve month high of $53.99. The company’s 50-day moving average price is $48.35 and its 200-day moving average price is $46.43. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.13). 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 $0.54 EPS. On average, sell-side analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GBCI has been the topic of several research analyst reports. DA Davidson lifted their price objective on Glacier Bancorp from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Piper Sandler set a $59.00 target price on Glacier Bancorp and gave the company an “overweight” rating in a report on Wednesday, February 11th. Keefe, Bruyette & Woods restated an “underperform” rating on shares of Glacier Bancorp in a research report on Monday, January 26th. Stephens set a $58.00 price target on Glacier Bancorp in a research note on Monday, January 26th. Finally, Janney Montgomery Scott began coverage on Glacier Bancorp in a research report on Tuesday, February 10th. They set a “neutral” rating and a $55.00 price target for the company. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Glacier Bancorp has a consensus rating of “Hold” and an average target price of $55.67.

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.