Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Acquired by California Public Employees Retirement System

Posted by Defense World Staff on May 15th, 2023

California Public Employees Retirement System increased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI – Get Rating) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 248,827 shares of the bank’s stock after buying an additional 2,762 shares during the period. California Public Employees Retirement System owned about 0.22% of Glacier Bancorp worth $12,297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GBCI. Raymond James Financial Services Advisors Inc. increased its stake in shares of Glacier Bancorp by 3.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,668 shares of the bank’s stock worth $1,492,000 after buying an additional 926 shares during the last quarter. US Bancorp DE increased its stake in shares of Glacier Bancorp by 2.9% in the first quarter. US Bancorp DE now owns 11,115 shares of the bank’s stock worth $559,000 after buying an additional 308 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in shares of Glacier Bancorp in the first quarter worth $410,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Glacier Bancorp by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,755 shares of the bank’s stock worth $1,999,000 after buying an additional 3,791 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of Glacier Bancorp by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 58,637 shares of the bank’s stock worth $3,029,000 after buying an additional 3,729 shares during the last quarter. Institutional investors own 70.54% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Craig A. Langel acquired 5,000 shares of Glacier Bancorp stock in a transaction that occurred on Friday, March 10th. The stock was acquired at an average price of $40.21 per share, with a total value of $201,050.00. Following the completion of the acquisition, the chairman now directly owns 86,457 shares of the company’s stock, valued at approximately $3,476,435.97. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Glacier Bancorp news, CAO Don J. Chery purchased 1,000 shares of the business’s stock in a transaction on Wednesday, April 26th. The stock was bought at an average cost of $32.91 per share, with a total value of $32,910.00. Following the acquisition, the chief accounting officer now owns 48,741 shares of the company’s stock, valued at $1,604,066.31. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Craig A. Langel purchased 5,000 shares of the business’s stock in a transaction on Friday, March 10th. The stock was acquired at an average cost of $40.21 per share, with a total value of $201,050.00. Following the completion of the acquisition, the chairman now directly owns 86,457 shares in the company, valued at approximately $3,476,435.97. The disclosure for this purchase can be found here. Insiders purchased 22,213 shares of company stock valued at $775,152 over the last 90 days. 0.44% of the stock is currently owned by company insiders.

Glacier Bancorp Stock Up 0.8 %

Glacier Bancorp stock opened at $27.49 on Monday. The company has a 50-day simple moving average of $37.80 and a 200-day simple moving average of $46.46. The firm has a market capitalization of $3.05 billion, a P/E ratio of 10.26 and a beta of 0.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.70 and a current ratio of 0.70. Glacier Bancorp, Inc. has a one year low of $26.77 and a one year high of $59.70.

Glacier Bancorp (NASDAQ:GBCI – Get Rating) last released its quarterly earnings results on Friday, April 21st. The bank reported $0.55 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.08). The firm had revenue of $214.09 million for the quarter, compared to the consensus estimate of $229.49 million. Glacier Bancorp had a return on equity of 10.37% and a net margin of 30.08%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 EPS. As a group, equities analysts expect that Glacier Bancorp, Inc. will post 2.12 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 20th. Investors of record on Tuesday, April 11th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.80%. The ex-dividend date was Monday, April 10th. Glacier Bancorp’s payout ratio is currently 49.25%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GBCI. DA Davidson lowered their target price on shares of Glacier Bancorp from $51.00 to $47.00 in a research note on Monday, April 24th. Raymond James lowered their target price on shares of Glacier Bancorp from $41.00 to $34.00 in a research note on Friday. StockNews.com began coverage on shares of Glacier Bancorp in a research note on Thursday, March 16th. They set a “sell” rating for the company. Stephens reiterated an “equal weight” rating and set a $43.00 target price on shares of Glacier Bancorp in a research note on Friday, April 21st. Finally, Truist Financial lowered their target price on shares of Glacier Bancorp from $49.00 to $40.00 in a research note on Monday, April 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Glacier Bancorp has a consensus rating of “Hold” and a consensus price target of $41.00.

About Glacier Bancorp

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Glacier Bancorp, Inc engages in the provision of banking services to individuals and businesses. Its portfolio segment of loans includes residential, commercial, and other commercial real estate, home equity, and other consumer. The firm also offers retail banking, business banking, real estate, commercial, agriculture, and consumer loans, and mortgage origination and loan servicing.