David C. Boyles Sells 25,399 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) Stock

Glacier Bancorp, Inc. (NASDAQ:GBCI) Director David C. Boyles sold 25,399 shares of Glacier Bancorp stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $40.32, for a total value of $1,024,087.68. Following the sale, the director now owns 1,218 shares in the company, valued at $49,109.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

NASDAQ:GBCI opened at $40.55 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.20. Glacier Bancorp, Inc. has a 1-year low of $36.84 and a 1-year high of $47.67. The company’s fifty day simple moving average is $40.32. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 1.65 and a beta of 1.24.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, April 18th. The bank reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). Glacier Bancorp had a return on equity of 12.83% and a net margin of 31.38%. The firm had revenue of $143.69 million during the quarter, compared to analyst estimates of $148.14 million. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 2.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Monday, July 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.26. Glacier Bancorp’s dividend payout ratio is 47.93%.

A number of equities research analysts have recently weighed in on GBCI shares. BidaskClub downgraded Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Zacks Investment Research downgraded Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, SunTrust Banks set a $45.00 price objective on Glacier Bancorp and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $43.80.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GBCI. Berman Capital Advisors LLC bought a new position in Glacier Bancorp in the 4th quarter valued at $26,000. Buffington Mohr McNeal bought a new position in Glacier Bancorp in the 1st quarter valued at $31,000. Oregon Public Employees Retirement Fund bought a new position in Glacier Bancorp in the 4th quarter valued at $32,000. Toronto Dominion Bank bought a new position in Glacier Bancorp in the 4th quarter valued at $39,000. Finally, FMR LLC boosted its position in Glacier Bancorp by 97.5% in the 4th quarter. FMR LLC now owns 1,722 shares of the bank’s stock valued at $68,000 after buying an additional 850 shares during the last quarter. Institutional investors own 77.38% of the company’s stock.

About Glacier Bancorp

Glacier Bancorp, Inc operates as the 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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.

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