Park Avenue Securities LLC Boosts Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Park Avenue Securities LLC grew its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCIGet Rating) by 11.5% during the first quarter, Holdings Channel reports. The institutional investor owned 5,980 shares of the bank’s stock after buying an additional 616 shares during the period. Park Avenue Securities LLC’s holdings in Glacier Bancorp were worth $301,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd purchased a new position in Glacier Bancorp in the 4th quarter worth approximately $28,000. Byrne Asset Management LLC purchased a new position in Glacier Bancorp in the 4th quarter worth approximately $29,000. GHP Investment Advisors Inc. purchased a new position in Glacier Bancorp in the 1st quarter worth approximately $70,000. Inspire Investing LLC purchased a new position in Glacier Bancorp in the 1st quarter worth approximately $235,000. Finally, First Interstate Bank purchased a new position in Glacier Bancorp in the 4th quarter worth approximately $236,000. 68.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GBCI has been the topic of a number of research analyst reports. Truist Financial lowered their price target on Glacier Bancorp from $54.00 to $53.00 in a report on Wednesday, June 15th. StockNews.com cut Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, May 28th.

Glacier Bancorp Stock Performance

NASDAQ:GBCI opened at $48.73 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.65 and a quick ratio of 0.65. Glacier Bancorp, Inc. has a 1 year low of $44.43 and a 1 year high of $60.69. The stock’s 50 day simple moving average is $47.64 and its two-hundred day simple moving average is $50.06. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 19.11 and a beta of 0.83.

Glacier Bancorp (NASDAQ:GBCIGet Rating) last released its quarterly earnings data on Thursday, July 21st. The bank reported $0.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.69. Glacier Bancorp had a return on equity of 9.50% and a net margin of 30.72%. The business had revenue of $221.72 million for the quarter, compared to the consensus estimate of $225.85 million. During the same quarter in the previous year, the company posted $0.81 EPS. As a group, equities analysts anticipate that Glacier Bancorp, Inc. will post 2.8 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 21st. Shareholders of record on Tuesday, July 12th were paid a $0.33 dividend. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, July 11th. This represents a $1.32 dividend on an annualized basis and a yield of 2.71%. Glacier Bancorp’s payout ratio is presently 51.76%.

About Glacier Bancorp

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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. 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 deposit, negotiated-rate jumbo certificates, and individual retirement accounts.

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Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

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