Cambridge Investment Research Advisors Inc. lowered its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI – Get Rating) by 18.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,653 shares of the bank’s stock after selling 7,951 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Glacier Bancorp were worth $1,742,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the stock. Covestor Ltd bought a new position in Glacier Bancorp during the fourth quarter worth about $28,000. Byrne Asset Management LLC bought a new position in Glacier Bancorp during the fourth quarter worth about $29,000. GHP Investment Advisors Inc. bought a new position in Glacier Bancorp during the first quarter worth about $70,000. Curi Wealth Management LLC bought a new position in Glacier Bancorp during the first quarter worth about $100,000. Finally, Van ECK Associates Corp boosted its position in Glacier Bancorp by 16.0% during the first quarter. Van ECK Associates Corp now owns 2,508 shares of the bank’s stock worth $126,000 after purchasing an additional 345 shares during the period. Institutional investors own 69.88% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, May 28th. Truist Financial cut their price objective on shares of Glacier Bancorp from $54.00 to $53.00 in a research report on Wednesday, June 15th.
Glacier Bancorp Price Performance
Glacier Bancorp (NASDAQ:GBCI – Get Rating) last announced its earnings results on Thursday, July 21st. The bank reported $0.69 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.69. The business had revenue of $221.72 million for the quarter, compared to the consensus estimate of $225.85 million. Glacier Bancorp had a net margin of 30.72% and a return on equity of 9.50%. During the same period last year, the firm posted $0.81 earnings per share. As a group, sell-side analysts predict that Glacier Bancorp, Inc. will post 2.81 earnings per share for the current fiscal year.
Glacier Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Investors 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. This represents a $1.32 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Monday, July 11th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 51.76%.
Glacier Bancorp 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. 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.
- Get a free copy of the StockNews.com research report on Glacier Bancorp (GBCI)
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