Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,580 shares of the bank’s stock after purchasing an additional 300 shares during the quarter. Federated Hermes Inc.’s holdings in Glacier Bancorp were worth $396,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GBCI. Allworth Financial LP increased its holdings in Glacier Bancorp by 409.4% in the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after buying an additional 479 shares during the period. FNY Investment Advisers LLC acquired a new position in Glacier Bancorp in the 4th quarter worth approximately $28,000. Selway Asset Management acquired a new position in Glacier Bancorp in the 3rd quarter worth approximately $47,000. Allspring Global Investments Holdings LLC increased its holdings in Glacier Bancorp by 14.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock worth $93,000 after buying an additional 413 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new position in Glacier Bancorp in the 4th quarter worth approximately $213,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial cut their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Stephens lowered their price objective on 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. Finally, DA Davidson lowered their price objective on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. One 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $37.91 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a fifty day moving average of $37.89 and a 200 day moving average of $37.15. The firm has a market cap of $4.30 billion, a PE ratio of 21.66 and a beta of 0.81. Glacier Bancorp, Inc. has a one year low of $26.77 and a one year high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last released its 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 firm had revenue of $196.47 million during the quarter, compared to analysts’ expectations of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 EPS. As a group, research analysts predict that Glacier Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.48%. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 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.