Peregrine Capital Management LLC Boosts Stock Holdings in Glacier Bancorp, Inc. $GBCI

Peregrine Capital Management LLC raised its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,521 shares of the bank’s stock after buying an additional 19,379 shares during the period. Peregrine Capital Management LLC’s holdings in Glacier Bancorp were worth $11,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of Glacier Bancorp by 30.9% during the first quarter. AQR Capital Management LLC now owns 31,176 shares of the bank’s stock worth $1,358,000 after buying an additional 7,359 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Glacier Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,839 shares of the bank’s stock valued at $3,000,000 after acquiring an additional 2,964 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Glacier Bancorp by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock worth $59,799,000 after buying an additional 73,756 shares during the last quarter. United Services Automobile Association purchased a new position in Glacier Bancorp in the first quarter valued at about $327,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 valued at $15,587,000 after acquiring an additional 26,157 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $47.48 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a 12 month low of $36.76 and a 12 month high of $52.81. The business has a fifty day simple moving average of $43.41 and a 200-day simple moving average of $45.30. The stock has a market cap of $6.17 billion, a PE ratio of 28.43 and a beta of 0.75.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, October 16th. The bank reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company earned $0.46 EPS. On average, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, December 9th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, December 9th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 64.71%.

Insiders Place Their Bets

In other news, insider Lee Kenneth Groom purchased 2,425 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was purchased at an average price of $41.26 per share, with a total value of $100,055.50. Following the acquisition, the insider directly owned 14,343 shares in the company, valued at approximately $591,792.18. The trade was a 20.35% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Randall M. Chesler bought 2,437 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average price of $40.91 per share, with a total value of $99,697.67. Following the completion of the purchase, the chief executive officer directly owned 7,422 shares of the company’s stock, valued at $303,634.02. This represents a 48.89% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 8,852 shares of company stock worth $364,484 in the last 90 days. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GBCI shares. DA Davidson reaffirmed a “buy” rating and set a $58.00 target price on shares of Glacier Bancorp in a report on Wednesday, November 12th. Piper Sandler raised shares of Glacier Bancorp from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $50.00 to $58.00 in a report on Thursday, December 18th. Keefe, Bruyette & Woods upgraded Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 price target on the stock in a research report on Monday, December 15th. Finally, Raymond James Financial dropped their price objective on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $53.60.

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.