Envestnet Asset Management Inc. boosted its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI – Free Report) by 17.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,777 shares of the bank’s stock after acquiring an additional 28,589 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Glacier Bancorp were worth $6,102,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Inspire Investing LLC increased its stake in Glacier Bancorp by 53.4% during the second quarter. Inspire Investing LLC now owns 10,024 shares of the bank’s stock worth $312,000 after acquiring an additional 3,490 shares during the last quarter. TCTC Holdings LLC acquired a new stake in Glacier Bancorp during the first quarter worth $54,000. SG Americas Securities LLC increased its stake in Glacier Bancorp by 122.6% during the first quarter. SG Americas Securities LLC now owns 53,233 shares of the bank’s stock worth $2,236,000 after acquiring an additional 29,314 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Glacier Bancorp by 40.5% during the first quarter. Handelsbanken Fonder AB now owns 27,774 shares of the bank’s stock worth $1,167,000 after buying an additional 8,000 shares during the period. Finally, Bank of Nova Scotia boosted its position in shares of Glacier Bancorp by 47.9% during the second quarter. Bank of Nova Scotia now owns 16,325 shares of the bank’s stock worth $509,000 after buying an additional 5,289 shares during the period. Institutional investors and hedge funds own 76.91% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on GBCI. DA Davidson raised their price target on Glacier Bancorp from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research report on Friday, November 3rd. Truist Financial raised their price target on Glacier Bancorp from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, October 23rd. Raymond James raised their price target on Glacier Bancorp from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. Finally, Piper Sandler lowered their price target on Glacier Bancorp from $34.00 to $31.00 in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $33.80.
Glacier Bancorp Trading Up 0.3 %
NASDAQ:GBCI opened at $33.68 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of 15.04 and a beta of 0.80. The stock has a fifty day moving average price of $30.07 and a 200 day moving average price of $30.96. Glacier Bancorp, Inc. has a 12-month low of $26.77 and a 12-month high of $58.84. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.07.
Glacier Bancorp (NASDAQ:GBCI – Get Free Report) last released its 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 firm 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 last year, the business posted $0.72 earnings per share. Sell-side analysts anticipate that Glacier Bancorp, Inc. will post 1.92 earnings per share for the current fiscal year.
Glacier Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Tuesday, December 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Monday, December 4th. Glacier Bancorp’s dividend payout ratio (DPR) 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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