Front Street Capital Management Inc. Purchases New Holdings in Glacier Bancorp, Inc. $GBCI

Front Street Capital Management Inc. acquired a new position in Glacier Bancorp, Inc. (NYSE:GBCI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,122 shares of the company’s stock, valued at approximately $986,000.

Several other institutional investors also recently modified their holdings of GBCI. Root Financial Partners LLC lifted its position in Glacier Bancorp by 122.5% in the first quarter. Root Financial Partners LLC now owns 652 shares of the company’s stock worth $29,000 after purchasing an additional 359 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of Glacier Bancorp in the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC raised its stake in shares of Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock valued at $31,000 after buying an additional 490 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Glacier Bancorp by 41.2% during the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after acquiring an additional 223 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Glacier Bancorp during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

NYSE:GBCI opened at $46.77 on Tuesday. The stock has a market capitalization of $6.09 billion, a P/E ratio of 19.17 and a beta of 0.74. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. Glacier Bancorp, Inc. has a 1 year low of $39.90 and a 1 year high of $54.58. The firm has a 50 day moving average of $50.26 and a 200-day moving average of $48.43.

Glacier Bancorp (NYSE:GBCI) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.The firm had revenue of $320.94 million during the quarter. During the same period in the prior year, the business earned $0.57 earnings per share. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 3.11 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were paid a $0.33 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. Glacier Bancorp’s dividend payout ratio (DPR) is 54.10%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. DA Davidson reissued a “buy” rating and issued a $58.00 price target on shares of Glacier Bancorp in a research report on Monday, July 27th. Piper Sandler upped their price objective on Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Stephens increased their target price on Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings raised Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Glacier Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $55.17.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.