Charles Schwab Investment Management Inc. Sells 36,198 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Charles Schwab Investment Management Inc. lessened its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,576,404 shares of the bank’s stock after selling 36,198 shares during the period. Charles Schwab Investment Management Inc. owned about 1.39% of Glacier Bancorp worth $69,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Piedmont Capital Management LLC lifted its stake in shares of Glacier Bancorp by 4.5% in the 4th quarter. Piedmont Capital Management LLC now owns 5,256 shares of the bank’s stock valued at $262,000 after acquiring an additional 224 shares during the last quarter. CWM LLC lifted its stake in shares of Glacier Bancorp by 0.7% in the 1st quarter. CWM LLC now owns 39,635 shares of the bank’s stock valued at $1,753,000 after acquiring an additional 285 shares during the last quarter. Mariner LLC lifted its stake in shares of Glacier Bancorp by 2.4% in the 4th quarter. Mariner LLC now owns 12,430 shares of the bank’s stock valued at $624,000 after acquiring an additional 292 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Glacier Bancorp by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 27,136 shares of the bank’s stock valued at $1,200,000 after acquiring an additional 300 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Glacier Bancorp by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the bank’s stock valued at $1,406,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Glacier Bancorp stock opened at $46.18 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $5.48 billion, a P/E ratio of 27.66 and a beta of 0.79. The stock’s 50 day moving average is $44.23 and its 200 day moving average is $44.16. Glacier Bancorp, Inc. has a twelve month low of $36.76 and a twelve month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, equities research analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. Glacier Bancorp’s dividend payout ratio (DPR) is currently 68.75%.

Insider Buying and Selling

In other Glacier Bancorp news, insider Lee Kenneth Groom sold 800 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $44.24, for a total transaction of $35,392.00. Following the sale, the insider directly owned 11,918 shares of the company’s stock, valued at $527,252.32. This trade represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GBCI shares. DA Davidson reaffirmed a “buy” rating and set a $50.00 price target on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Janney Montgomery Scott raised Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Thursday, June 5th. Piper Sandler upped their price target on Glacier Bancorp from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Keefe, Bruyette & Woods upped their target price on Glacier Bancorp from $50.00 to $52.00 and gave the stock a “market perform” rating in a report on Friday, June 27th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $48.00 target price (up previously from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

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.