Crossmark Global Holdings Inc. lessened its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI – Free Report) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,105 shares of the bank’s stock after selling 408 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Glacier Bancorp were worth $268,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Glacier Bancorp by 2.9% in the 1st quarter. BlackRock Inc. now owns 13,765,767 shares of the bank’s stock worth $578,300,000 after purchasing an additional 388,578 shares during the period. Vanguard Group Inc. raised its holdings in Glacier Bancorp by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,281,413 shares of the bank’s stock worth $554,256,000 after purchasing an additional 155,648 shares during the period. State Street Corp raised its holdings in Glacier Bancorp by 7.8% in the 1st quarter. State Street Corp now owns 4,807,832 shares of the bank’s stock worth $241,738,000 after purchasing an additional 346,492 shares during the period. Dimensional Fund Advisors LP raised its holdings in Glacier Bancorp by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,323,749 shares of the bank’s stock worth $97,622,000 after purchasing an additional 100,095 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Glacier Bancorp by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 2,231,239 shares of the bank’s stock worth $93,734,000 after purchasing an additional 65,836 shares during the period. Institutional investors and hedge funds own 76.91% of the company’s stock.
Analysts Set New Price Targets
GBCI has been the subject of a number of analyst reports. DA Davidson upped their price target on Glacier Bancorp from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Thursday. Raymond James increased their target price on Glacier Bancorp from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, August 10th. Piper Sandler reduced their target price on Glacier Bancorp from $34.00 to $31.00 in a report on Monday, July 24th. Finally, Stephens reissued an “equal weight” rating and set a $31.00 target price on shares of Glacier Bancorp in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Glacier Bancorp currently has a consensus rating of “Hold” and an average target price of $33.80.
Glacier Bancorp Price Performance
GBCI stock opened at $30.10 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50 day simple moving average of $29.53 and a 200-day simple moving average of $31.34. The firm has a market capitalization of $3.34 billion, a PE ratio of 13.44 and a beta of 0.80. Glacier Bancorp, Inc. has a 1 year low of $26.77 and a 1 year high of $59.70.
Glacier Bancorp (NASDAQ:GBCI – Get Free Report) last posted its quarterly earnings results on Friday, October 20th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The business had revenue of $295.15 million during the quarter, compared to analyst estimates of $197.37 million. Glacier Bancorp had a return on equity of 8.58% and a net margin of 22.89%. During the same period in the prior year, the business earned $0.72 earnings per share. Equities research analysts anticipate that Glacier Bancorp, Inc. will post 1.89 earnings per share for the current fiscal year.
Glacier Bancorp Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, October 19th. Stockholders of record on Tuesday, October 10th were given a $0.33 dividend. The ex-dividend date was Friday, October 6th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.39%. Glacier Bancorp’s dividend payout ratio is 58.93%.
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.
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