Cambridge Investment Research Advisors Inc. Lowers Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Cambridge Investment Research Advisors Inc. reduced its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 40.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,339 shares of the bank’s stock after selling 4,996 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Glacier Bancorp were worth $325,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new position in Glacier Bancorp in the 4th quarter valued at about $33,000. UMB Bank n.a. lifted its stake in Glacier Bancorp by 114.9% in the 1st quarter. UMB Bank n.a. now owns 838 shares of the bank’s stock valued at $37,000 after buying an additional 448 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Glacier Bancorp by 252.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank’s stock valued at $62,000 after buying an additional 1,001 shares in the last quarter. Bridge Generations Wealth Management LLC purchased a new position in Glacier Bancorp in the 4th quarter valued at about $70,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Glacier Bancorp in the 4th quarter valued at about $146,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $46.20 on Friday. Glacier Bancorp, Inc. has a one year low of $36.76 and a one year high of $60.67. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 27.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average price is $42.76 and its 200 day moving average price is $45.04.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Monday, April 28th. The bank reported $0.48 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $0.29 EPS. On average, research analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Tuesday, July 8th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, July 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.86%. Glacier Bancorp’s dividend payout ratio is presently 70.97%.

Wall Street Analysts Forecast Growth

GBCI has been the topic of a number of research reports. Janney Montgomery Scott raised shares of Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Thursday, June 5th. Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. DA Davidson reiterated a “buy” rating and set a $50.00 price objective on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on Glacier Bancorp from $50.00 to $52.00 and gave the stock a “market perform” rating in a research report on Friday, June 27th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.83.

Glacier Bancorp Profile

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.