Insider Buying: Glacier Bancorp, Inc. (NASDAQ:GBCI) Chairman Acquires $201,050.00 in Stock

Glacier Bancorp, Inc. (NASDAQ:GBCI – Get Rating) Chairman Craig A. Langel bought 5,000 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were acquired at an average price of $40.21 per share, for a total transaction of $201,050.00. Following the completion of the transaction, the chairman now directly owns 86,457 shares in the company, valued at approximately $3,476,435.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Glacier Bancorp Stock Performance

Glacier Bancorp stock opened at $40.89 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. Glacier Bancorp, Inc. has a 1-year low of $38.57 and a 1-year high of $59.70. The firm has a market capitalization of $4.53 billion, a P/E ratio of 14.92 and a beta of 0.82. The company’s 50-day moving average is $47.02 and its 200 day moving average is $50.86.

Glacier Bancorp (NASDAQ:GBCI – Get Rating) last posted its quarterly earnings data on Friday, January 27th. The bank reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Glacier Bancorp had a return on equity of 10.60% and a net margin of 31.90%. The firm had revenue of $253.57 million during the quarter, compared to analysts’ expectations of $242.03 million. During the same period last year, the company earned $0.46 earnings per share. Research analysts forecast that Glacier Bancorp, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

GBCI has been the topic of several recent research reports. StockNews.com cut shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. Raymond James upgraded shares of Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a research report on Tuesday, February 21st. Finally, Truist Financial reduced their price objective on shares of Glacier Bancorp from $62.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, February 1st.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors have recently modified their holdings of the stock. Trust Investment Advisors purchased a new position in shares of Glacier Bancorp during the fourth quarter worth approximately $313,000. Front Street Capital Management Inc. increased its position in shares of Glacier Bancorp by 13.5% during the fourth quarter. Front Street Capital Management Inc. now owns 26,564 shares of the bank’s stock worth $1,313,000 after acquiring an additional 3,153 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in shares of Glacier Bancorp by 25.4% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 17,794 shares of the bank’s stock worth $879,000 after acquiring an additional 3,600 shares during the period. Alliancebernstein L.P. increased its position in shares of Glacier Bancorp by 2.2% during the fourth quarter. Alliancebernstein L.P. now owns 256,951 shares of the bank’s stock worth $12,699,000 after acquiring an additional 5,516 shares during the period. Finally, Point72 Middle East FZE purchased a new position in shares of Glacier Bancorp during the fourth quarter worth approximately $190,000. 70.54% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Company Profile

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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.