Principal Financial Group Inc. Reduces Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Principal Financial Group Inc. lowered its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 419,905 shares of the bank’s stock after selling 20,091 shares during the quarter. Principal Financial Group Inc. owned 0.38% of Glacier Bancorp worth $13,088,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of 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 buying an additional 388,578 shares during the period. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 155,648 shares in the last quarter. State Street Corp raised its position in shares of 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 acquiring an additional 346,492 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 acquiring an additional 100,095 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of 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 acquiring an additional 65,836 shares in the last quarter. 76.91% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Up 0.3 %

Shares of GBCI opened at $33.68 on Friday. Glacier Bancorp, Inc. has a 52 week low of $26.77 and a 52 week high of $58.84. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 15.04 and a beta of 0.80. The stock’s 50-day moving average price is $30.07 and its 200-day moving average price is $30.96.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Friday, October 20th. The bank reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. Glacier Bancorp had a return on equity of 8.58% and a net margin of 22.89%. The business had revenue of $295.15 million during the quarter, compared to analysts’ expectations of $197.37 million. During the same quarter in the prior year, the firm earned $0.72 earnings per share. On average, sell-side analysts predict that Glacier Bancorp, Inc. will post 1.92 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Tuesday, December 5th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, December 4th. This represents a $1.32 annualized dividend and a dividend yield of 3.92%. Glacier Bancorp’s dividend payout ratio is presently 58.93%.

Analyst Upgrades and Downgrades

GBCI has been the subject of several recent research reports. Piper Sandler reduced their price target on Glacier Bancorp from $34.00 to $31.00 in a research report on Monday, July 24th. StockNews.com raised Glacier Bancorp to a “sell” rating in a research report on Friday, November 3rd. Truist Financial upped their target price on Glacier Bancorp from $31.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, October 23rd. Raymond James upped their target price on Glacier Bancorp from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, August 10th. Finally, DA Davidson increased their price objective on Glacier Bancorp from $37.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, August 10th. One 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.80.

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.