Kennedy Capital Management LLC Buys 40,138 Shares of Glacier Bancorp, Inc. $GBCI

Kennedy Capital Management LLC raised its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 20.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 235,048 shares of the bank’s stock after acquiring an additional 40,138 shares during the period. Kennedy Capital Management LLC’s holdings in Glacier Bancorp were worth $10,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GBCI. Ameritas Advisory Services LLC acquired a new stake in shares of Glacier Bancorp in the 2nd quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the bank’s stock worth $31,000 after acquiring an additional 490 shares in the last quarter. eCIO Inc. acquired a new stake in Glacier Bancorp during the 1st quarter valued at $33,000. UMB Bank n.a. boosted its stake in Glacier Bancorp by 56.1% in the second quarter. UMB Bank n.a. now owns 1,308 shares of the bank’s stock worth $56,000 after purchasing an additional 470 shares in the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Glacier Bancorp during the first quarter worth $121,000. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Stock Up 0.2%

Shares of NASDAQ GBCI opened at $42.77 on Friday. Glacier Bancorp, Inc. has a 1 year low of $36.76 and a 1 year high of $57.83. The firm’s 50-day moving average is $43.90 and its 200-day moving average is $44.71. 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 $5.56 billion, a PE ratio of 25.61 and a beta of 0.78.

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 prior year, the firm earned $0.46 earnings per share. Equities analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GBCI shares. Piper Sandler reissued a “neutral” rating and set a $50.00 price objective on shares of Glacier Bancorp in a report on Monday, October 20th. Keefe, Bruyette & Woods decreased 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. Raymond James Financial dropped 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 report on Monday, October 20th. Finally, DA Davidson reaffirmed a “buy” rating and set a $58.00 price objective on shares of Glacier Bancorp in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Insider Activity

In other news, insider Ryan Thomas Screnar purchased 979 shares of Glacier Bancorp stock in a transaction dated Thursday, November 6th. The shares were bought at an average cost of $41.88 per share, with a total value of $41,000.52. Following the completion of the transaction, the insider directly owned 10,842 shares in the company, valued at $454,062.96. This trade represents a 9.93% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ron J. Copher purchased 2,400 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was purchased at an average cost of $41.17 per share, with a total value of $98,808.00. Following the acquisition, the chief financial officer directly owned 96,626 shares in the company, valued at $3,978,092.42. This trade represents a 2.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 8,852 shares of company stock worth $364,484 over the last quarter. 0.53% of the stock is owned by insiders.

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.