Allspring Global Investments Holdings LLC cut its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI – Free Report) by 57.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,844 shares of the bank’s stock after selling 3,789 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Glacier Bancorp were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in GBCI. Parallel Advisors LLC grew its stake in shares of Glacier Bancorp by 124.9% during the first quarter. Parallel Advisors LLC now owns 785 shares of the bank’s stock worth $33,000 after buying an additional 436 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Glacier Bancorp during the 1st quarter worth $36,000. Global Retirement Partners LLC increased its holdings in Glacier Bancorp by 86.0% in the 2nd quarter. Global Retirement Partners LLC now owns 1,276 shares of the bank’s stock worth $40,000 after purchasing an additional 590 shares in the last quarter. Covestor Ltd raised its position in Glacier Bancorp by 115.0% in the first quarter. Covestor Ltd now owns 1,045 shares of the bank’s stock valued at $53,000 after purchasing an additional 559 shares during the last quarter. Finally, TCTC Holdings LLC acquired a new stake in shares of Glacier Bancorp during the first quarter valued at about $54,000. 76.91% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently commented on GBCI. 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 research report on Thursday, August 10th. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a report on Friday, November 3rd. Truist Financial lifted their target price on Glacier Bancorp from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, October 23rd. Piper Sandler decreased their price target on Glacier Bancorp from $34.00 to $31.00 in a research note on Monday, July 24th. Finally, DA Davidson lifted their price objective on Glacier Bancorp from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.80.
Glacier Bancorp Trading Up 1.0 %
NASDAQ GBCI opened at $34.31 on Thursday. The stock has a market capitalization of $3.80 billion, a P/E ratio of 15.32 and a beta of 0.80. The business has a 50 day simple moving average of $29.87 and a 200 day simple moving average of $30.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.72 and a quick ratio of 0.72. Glacier Bancorp, Inc. has a one year low of $26.77 and a one year high of $58.84.
Glacier Bancorp (NASDAQ:GBCI – Get Free Report) last issued its earnings results on Friday, October 20th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. The company had revenue of $295.15 million during the quarter, compared to the consensus estimate 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 last year, the business posted $0.72 EPS. Research analysts expect that Glacier Bancorp, Inc. will post 1.92 earnings per share for the current year.
Glacier Bancorp Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 19th. Shareholders of record on Tuesday, October 10th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Friday, October 6th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s payout ratio is 58.93%.
Glacier Bancorp Company 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.
- Five stocks we like better than Glacier Bancorp
- What Does Downgrade Mean in Investing?
- 3 value stocks you shouldn’t let go of this quarter
- How to Calculate Inflation Rate
- 5 must-have next-gen technologies that institutions are buying
- What is a Bond Market Holiday? How to Invest and Trade
- 3 intriguing late-week earnings plays for short-term traders
Receive News & Ratings for Glacier Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glacier Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.