Glacier Bancorp director sells over $250k in company stock

Glacier Bancorp , Inc. (NASDAQ:NYSE:GBCI) director Annie M. Goodwin sold 5,619 shares of the company's stock on July 31, 2024, for a total transaction value of $250,326 at a price of $44.55 per share. Following the sale, Goodwin retains ownership of 9,402 shares of Glacier Bancorp, which are held directly. Additionally, Goodwin has an indirect ownership of 5,138 shares through an IRA.

The sale was publicly disclosed in a filing with the Securities and Exchange Commission. The transaction may interest investors as insider sales can provide insights into a director's view of the company's current valuation. It's important to note that insider transactions are not necessarily indicative of future stock performance, but they are often closely watched for any potential signals.

Glacier Bancorp, Inc., based in Kalispell, Montana, operates as a state commercial bank and provides various banking products and services in the United States. The company's stock is traded under the ticker symbol GBCI on the NASDAQ stock exchange.

Investors and shareholders can view the details of this transaction in the company's recent SEC filings. The shares owned by Annie M. Goodwin following the transaction suggest a continued investment in the company, despite the recent sale. As with all insider transactions, the context and reasons behind the sale can vary, and investors are encouraged to consider the broader picture alongside such filings.

In other recent news, Glacier Bancorp has seen significant developments. The company reported a substantial 37% increase in net income, reaching $44.7 million in the second quarter, coupled with a rise in the net interest margin to 2.68%. The bank also completed the acquisition of six branches from Heartland Bank, a strategic move expected to boost future net interest income growth.

Analyst firm Keefe, Bruyette & Woods adjusted their outlook on Glacier Bancorp, reducing the price target to $44 from the previous $47, while keeping a Market Perform rating on the stock. In contrast, Truist Securities raised its price target to $46.00 from the previous target of $38.00, while maintaining a Hold rating.

DA Davidson, another analyst firm, raised the price target on Glacier Bancorp to $49.00, up from the previous $45.00, while maintaining a Buy rating. This decision comes despite a decrease in earnings per share forecasts due to lower than anticipated net interest income projections. These are among the recent developments that could influence the company's future performance.

InvestingPro Insights

Recent activity within Glacier Bancorp, Inc. (NASDAQ:GBCI) has caught the attention of market participants. Director Annie M. Goodwin's sale of 5,619 shares has coincided with a period of notable price movement for the company's stock. According to InvestingPro, the stock has experienced a significant decline over the last week, with a 1-week price total return of -8.13%. Despite this recent dip, the company has shown resilience with a strong 1-month price total return of 13.96%, reflecting a positive short-term trend.

InvestingPro Tips reveal that while analysts have recently revised their earnings expectations downwards for the upcoming period, they still predict Glacier Bancorp will remain profitable this year. The company's long-standing history of maintaining dividend payments, having done so for 40 consecutive years, is a testament to its financial stability and commitment to shareholder returns. The current dividend yield stands at an attractive 3.11%.

When examining the company's valuation metrics, the adjusted P/E ratio as of the last twelve months is at 25.08, which could suggest a premium compared to industry peers. Additionally, a PEG ratio of -0.77 indicates potential concerns over future earnings growth in relation to the company's share price. With a market capitalization of $4.63 billion and a price/book ratio of 1.48, investors may weigh the company's intrinsic value against its market value.

For those interested in a deeper dive into Glacier Bancorp's financial health and future prospects, InvestingPro offers additional insights. There are currently 7 more InvestingPro Tips available at https://www.investing.com/pro/GBCI, providing a comprehensive analysis for informed investment decisions.

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