Retirement Systems of Alabama Buys 431 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Retirement Systems of Alabama increased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.3% during the fourth quarter, Holdings Channel reports. The firm owned 138,871 shares of the bank’s stock after acquiring an additional 431 shares during the period. Retirement Systems of Alabama’s holdings in Glacier Bancorp were worth $5,738,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GBCI. Allworth Financial LP increased its position in shares of Glacier Bancorp by 409.4% in the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after purchasing an additional 479 shares during the period. GAMMA Investing LLC bought a new position in shares of Glacier Bancorp in the fourth quarter worth $25,000. FNY Investment Advisers LLC bought a new position in shares of Glacier Bancorp in the fourth quarter worth $28,000. Selway Asset Management bought a new position in shares of Glacier Bancorp in the third quarter worth $47,000. Finally, Allspring Global Investments Holdings LLC increased its position 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 worth $93,000 after purchasing an additional 413 shares during the period. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $37.91 on Monday. The business’s 50-day moving average price is $37.89 and its 200-day moving average price is $37.20. Glacier Bancorp, Inc. has a 12 month low of $26.77 and a 12 month high of $44.06. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 21.66 and a beta of 0.81. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The firm had revenue of $196.47 million for the quarter, compared to analyst estimates 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 for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 earnings per share. Equities research analysts forecast that Glacier Bancorp, Inc. will post 1.68 EPS for the current year.

Glacier Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were paid a $0.33 dividend. 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%. The ex-dividend date was Monday, April 8th. Glacier Bancorp’s payout ratio is currently 75.43%.

Analysts Set New Price Targets

GBCI has been the topic of several research analyst reports. DA Davidson reduced their price objective 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. Truist Financial reduced their price objective 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. StockNews.com raised Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. Finally, Stephens reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Glacier Bancorp has an average rating of “Hold” and a consensus price target 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.