Bayesian Capital Management LP Invests $477,000 in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Bayesian Capital Management LP bought a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,852 shares of the bank’s stock, valued at approximately $477,000.

Several other hedge funds have also modified their holdings of GBCI. Allworth Financial LP lifted its holdings in Glacier Bancorp by 409.4% in the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after acquiring an additional 479 shares during the period. GAMMA Investing LLC acquired a new stake in Glacier Bancorp in the fourth quarter valued at $25,000. Allspring Global Investments Holdings LLC acquired a new position in Glacier Bancorp during the first quarter worth about $25,000. Headlands Technologies LLC purchased a new stake in Glacier Bancorp in the 1st quarter valued at approximately $50,000. Finally, Signaturefd LLC boosted its stake in shares of Glacier Bancorp by 51.9% during the 4th quarter. Signaturefd LLC now owns 3,727 shares of the bank’s stock worth $154,000 after purchasing an additional 1,274 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

Shares of NASDAQ GBCI traded down $0.20 during midday trading on Wednesday, hitting $44.52. 3,723 shares of the company’s stock were exchanged, compared to its average volume of 657,931. Glacier Bancorp, Inc. has a twelve month low of $26.83 and a twelve month high of $46.78. The firm has a market cap of $5.05 billion, a P/E ratio of 27.25 and a beta of 0.81. The stock’s 50 day moving average price is $38.44 and its 200-day moving average price is $38.28. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $306.04 million for the quarter, compared to analysts’ expectations of $204.43 million. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. During the same period in the previous year, the business earned $0.50 earnings per share. Equities research analysts anticipate that Glacier Bancorp, Inc. will post 1.63 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Tuesday, July 9th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.96%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

Analyst Upgrades and Downgrades

GBCI has been the subject of several research analyst reports. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. DA Davidson dropped their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Stephens reduced their price objective on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Finally, Truist Financial increased their price objective on shares of Glacier Bancorp from $38.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Glacier Bancorp has an average rating of “Hold” and an average target price of $44.25.

Insider Activity

In other Glacier Bancorp news, CAO Don J. Chery sold 1,000 shares of Glacier Bancorp stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $45.49, for a total transaction of $45,490.00. Following the completion of the sale, the chief accounting officer now owns 52,539 shares of the company’s stock, valued at approximately $2,389,999.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.44% of the stock is currently owned by corporate 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.