Synovus Financial Corp Increases Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Synovus Financial Corp increased its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCIGet Rating) by 10.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,950 shares of the bank’s stock after purchasing an additional 2,092 shares during the quarter. Synovus Financial Corp’s holdings in Glacier Bancorp were worth $1,076,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Strs Ohio raised its stake in shares of Glacier Bancorp by 2.0% during the 3rd quarter. Strs Ohio now owns 15,000 shares of the bank’s stock worth $736,000 after buying an additional 300 shares during the period. Handelsbanken Fonder AB lifted its holdings in Glacier Bancorp by 3.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 20,074 shares of the bank’s stock valued at $986,000 after purchasing an additional 700 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Glacier Bancorp by 81.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,840 shares of the bank’s stock worth $139,000 after purchasing an additional 1,275 shares in the last quarter. First Interstate Bank acquired a new stake in shares of Glacier Bancorp in the third quarter valued at approximately $204,000. Finally, Versor Investments LP grew its holdings in Glacier Bancorp by 56.4% in the 3rd quarter. Versor Investments LP now owns 7,490 shares of the bank’s stock valued at $368,000 after buying an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 70.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Truist Financial dropped their target price on shares of Glacier Bancorp from $68.00 to $62.00 in a report on Friday, December 9th. Stephens raised their price objective on shares of Glacier Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, October 27th. Finally, assumed coverage on Glacier Bancorp in a research note on Wednesday, October 12th. They set a “sell” rating for the company.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $49.43 on Monday. The stock has a 50 day moving average of $54.15 and a two-hundred day moving average of $51.89. Glacier Bancorp, Inc. has a twelve month low of $44.43 and a twelve month high of $60.69. The stock has a market cap of $5.48 billion, a P/E ratio of 19.93 and a beta of 0.85. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.33.

Glacier Bancorp (NASDAQ:GBCIGet Rating) last posted its quarterly earnings data on Thursday, October 20th. The bank reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Glacier Bancorp had a return on equity of 9.31% and a net margin of 29.68%. The company had revenue of $235.73 million for the quarter, compared to analyst estimates of $238.18 million. During the same period in the previous year, the business posted $0.79 earnings per share. The firm’s revenue was up 19.4% compared to the same quarter last year. On average, research analysts forecast that Glacier Bancorp, Inc. will post 2.74 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Tuesday, December 6th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, December 5th. Glacier Bancorp’s dividend payout ratio (DPR) is 53.23%.

Glacier Bancorp Profile

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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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