Rafferty Asset Management LLC Has $6.91 Million Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Rafferty Asset Management LLC lifted its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCIFree Report) by 46.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,238 shares of the bank’s stock after purchasing an additional 53,222 shares during the period. Rafferty Asset Management LLC owned 0.15% of Glacier Bancorp worth $6,910,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Allworth Financial LP raised its stake in Glacier Bancorp by 409.4% in the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after acquiring an additional 479 shares during the period. GAMMA Investing LLC bought a new position in shares of Glacier Bancorp in the fourth quarter valued at about $25,000. FNY Investment Advisers LLC acquired a new stake in shares of Glacier Bancorp during the 4th quarter worth about $28,000. Signaturefd LLC lifted its stake in shares of Glacier Bancorp by 51.9% during the 4th quarter. Signaturefd LLC now owns 3,727 shares of the bank’s stock worth $154,000 after buying an additional 1,274 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in shares of Glacier Bancorp by 66,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,972 shares of the bank’s stock worth $164,000 after buying an additional 3,966 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Stock Up 0.5 %

NASDAQ GBCI opened at $36.21 on Thursday. 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 $4.11 billion, a price-to-earnings ratio of 20.58 and a beta of 0.80. The company has a 50 day moving average of $37.71 and a 200-day moving average of $38.25. Glacier Bancorp, Inc. has a 1-year low of $26.83 and a 1-year high of $44.06.

Glacier Bancorp (NASDAQ:GBCIGet Free Report) last released its earnings results on Wednesday, April 24th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. During the same period in the prior year, the business earned $0.55 earnings per share. Glacier Bancorp’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, equities research analysts expect that Glacier Bancorp, Inc. will post 1.64 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were paid a $0.33 dividend. This is an increase 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 3.65%. The ex-dividend date of this dividend was Monday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

Analysts Set New Price Targets

Several research analysts have weighed in on GBCI shares. DA Davidson lowered their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Thursday. Stephens reduced their price target on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 23rd. Finally, Truist Financial lowered their price objective on 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 research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.40.

View Our Latest Research Report on GBCI

Glacier Bancorp Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

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