Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 23.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 259,702 shares of the bank’s stock after selling 80,180 shares during the period. Bank of America Corp DE owned approximately 0.23% of Glacier Bancorp worth $13,042,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mather Group LLC. grew its stake in shares of Glacier Bancorp by 97.6% in the 4th quarter. Mather Group LLC. now owns 733 shares of the bank’s stock valued at $37,000 after purchasing an additional 362 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new position in shares of Glacier Bancorp in the 4th quarter valued at approximately $63,000. Bridge Generations Wealth Management LLC purchased a new position in shares of Glacier Bancorp in the 4th quarter valued at approximately $70,000. Smartleaf Asset Management LLC grew its stake in shares of Glacier Bancorp by 17.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank’s stock valued at $144,000 after purchasing an additional 431 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Glacier Bancorp in the 4th quarter valued at approximately $146,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GBCI has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their target price on Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. Piper Sandler lowered their target price on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Raymond James set a $45.00 price target on Glacier Bancorp in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Glacier Bancorp presently has an average rating of “Hold” and an average price target of $50.50.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $41.19 on Friday. The stock has a fifty day moving average price of $41.81 and a 200 day moving average price of $48.22. The stock has a market cap of $4.68 billion, a PE ratio of 24.66 and a beta of 0.79. Glacier Bancorp, Inc. has a 1 year low of $34.48 and a 1 year high of $60.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same quarter in the previous year, the firm earned $0.29 earnings per share. Sell-side analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.20%. Glacier Bancorp’s dividend payout ratio is presently 70.97%.

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.