Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 7.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,216 shares of the bank’s stock after acquiring an additional 890 shares during the quarter. State of Alaska Department of Revenue’s holdings in Glacier Bancorp were worth $603,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Glacier Bancorp in the first quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Glacier Bancorp during the 2nd quarter worth approximately $25,000. Headlands Technologies LLC acquired a new position in shares of Glacier Bancorp in the 1st quarter valued at $50,000. GAMMA Investing LLC grew its position in shares of Glacier Bancorp by 96.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after buying an additional 772 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Glacier Bancorp during the 1st quarter worth $216,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $55.94 on Friday. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 34.55 and a beta of 0.77. Glacier Bancorp, Inc. has a one year low of $30.18 and a one year high of $58.50. The company has a 50-day simple moving average of $46.88 and a 200-day simple moving average of $42.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The company had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. During the same period last year, the business posted $0.47 EPS. On average, analysts predict that Glacier Bancorp, Inc. will post 1.67 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.36%. Glacier Bancorp’s dividend payout ratio (DPR) is 81.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GBCI shares. Piper Sandler upped their price objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Raymond James boosted their target price on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Truist Financial raised their price target on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Glacier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $46.20.

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.