Trek Financial LLC Has $1.31 Million Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Trek Financial LLC cut its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,116 shares of the bank’s stock after selling 418 shares during the period. Trek Financial LLC’s holdings in Glacier Bancorp were worth $1,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GBCI. Dark Forest Capital Management LP increased its holdings in Glacier Bancorp by 163.6% in the fourth quarter. Dark Forest Capital Management LP now owns 746 shares of the bank’s stock worth $37,000 after buying an additional 463 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Glacier Bancorp by 124.9% in the 1st quarter. Parallel Advisors LLC now owns 785 shares of the bank’s stock valued at $33,000 after purchasing an additional 436 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Glacier Bancorp during the first quarter valued at about $36,000. Covestor Ltd raised its holdings in Glacier Bancorp by 115.0% during the first quarter. Covestor Ltd now owns 1,045 shares of the bank’s stock valued at $53,000 after buying an additional 559 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in Glacier Bancorp during the fourth quarter valued at about $62,000. 76.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on GBCI. Piper Sandler lowered their price objective on Glacier Bancorp from $34.00 to $31.00 in a report on Monday, July 24th. Raymond James lifted their target price on shares of Glacier Bancorp from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, August 10th. Truist Financial downgraded Glacier Bancorp from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a research report on Monday, July 24th. DA Davidson raised their price target on Glacier Bancorp from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, Stephens restated an “equal weight” rating and set a $31.00 target price on shares of Glacier Bancorp in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $34.20.

Glacier Bancorp Trading Up 0.4 %

Shares of NASDAQ GBCI opened at $28.67 on Friday. The company’s 50 day simple moving average is $31.72 and its 200 day simple moving average is $34.71. Glacier Bancorp, Inc. has a fifty-two week low of $26.77 and a fifty-two week high of $59.70. The firm has a market capitalization of $3.18 billion, a P/E ratio of 11.51 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.70 and a quick ratio of 0.70.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, July 20th. The bank reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. The firm had revenue of $201.06 million for the quarter, compared to analysts’ expectations of $208.43 million. Glacier Bancorp had a return on equity of 9.60% and a net margin of 26.60%. On average, analysts predict that Glacier Bancorp, Inc. will post 1.84 EPS for the current year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Tuesday, July 11th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, July 10th. This represents a $1.32 annualized dividend and a yield of 4.60%. Glacier Bancorp’s dividend payout ratio is presently 53.01%.

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.