Russell Investments Group Ltd. Sells 42,496 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Russell Investments Group Ltd. lessened its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,618 shares of the bank’s stock after selling 42,496 shares during the period. Russell Investments Group Ltd.’s holdings in Glacier Bancorp were worth $13,950,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Glacier Bancorp by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,269,992 shares of the bank’s stock valued at $349,695,000 after purchasing an additional 67,091 shares in the last quarter. Cooke & Bieler LP lifted its holdings in shares of Glacier Bancorp by 34.0% during the 4th quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock valued at $133,847,000 after purchasing an additional 821,199 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Glacier Bancorp by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,413,439 shares of the bank’s stock valued at $40,283,000 after purchasing an additional 24,173 shares in the last quarter. FMR LLC lifted its holdings in shares of Glacier Bancorp by 50.1% during the 3rd quarter. FMR LLC now owns 1,360,803 shares of the bank’s stock valued at $38,783,000 after purchasing an additional 454,289 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Glacier Bancorp by 12.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,310,453 shares of the bank’s stock valued at $37,348,000 after purchasing an additional 141,127 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Up 0.7 %

NASDAQ:GBCI opened at $37.91 on Friday. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 21.66 and a beta of 0.81. Glacier Bancorp, Inc. has a twelve month low of $26.77 and a twelve month high of $44.06. The stock’s 50 day moving average price is $37.86 and its two-hundred day moving average price is $37.06. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76.

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

Glacier Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, April 8th. 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 3.48%. Glacier Bancorp’s payout ratio is presently 75.43%.

Analyst Upgrades and Downgrades

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

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.