Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,082 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,993 shares of the bank’s stock after purchasing an additional 1,082 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Glacier Bancorp were worth $991,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Glacier Bancorp by 409.4% during the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after purchasing an additional 479 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Glacier Bancorp during the fourth quarter worth $28,000. Selway Asset Management bought a new stake in shares of Glacier Bancorp in the third quarter valued at about $47,000. Allspring Global Investments Holdings LLC grew its stake in shares of Glacier Bancorp by 14.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock valued at $93,000 after acquiring an additional 413 shares in the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in Glacier Bancorp during the fourth quarter worth about $213,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GBCI shares. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Stephens decreased their target price on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Raymond James increased their target price on shares of Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. DA Davidson decreased their target price on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Truist Financial decreased their target price on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.40.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $37.12 on Monday. The company has a 50 day moving average of $37.88 and a 200-day moving average of $36.97. Glacier Bancorp, Inc. has a 1-year low of $26.77 and a 1-year high of $44.06. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The company has a market cap of $4.21 billion, a PE ratio of 21.21 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The firm had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. During the same period last year, the company posted $0.55 EPS. The business’s revenue was down 8.2% on a year-over-year basis. As a group, equities research analysts forecast that Glacier Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio is 75.43%.

About Glacier Bancorp

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. The company offers retail banking, business banking, and mortgage origination and loan servicing services.