Citigroup Inc. Has $4.81 Million Stock Position in Glacier Bancorp, Inc. $GBCI

Citigroup Inc. cut its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 22.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,794 shares of the bank’s stock after selling 29,083 shares during the period. Citigroup Inc. owned about 0.08% of Glacier Bancorp worth $4,808,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Glacier Bancorp by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,488,822 shares of the bank’s stock worth $607,831,000 after buying an additional 419,849 shares in the last quarter. Geode Capital Management LLC boosted its stake in Glacier Bancorp by 2.0% in the second quarter. Geode Capital Management LLC now owns 2,993,108 shares of the bank’s stock valued at $128,957,000 after buying an additional 59,421 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Glacier Bancorp by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock valued at $59,799,000 after buying an additional 73,756 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in Glacier Bancorp by 41.5% in the third quarter. Deprince Race & Zollo Inc. now owns 1,272,041 shares of the bank’s stock valued at $61,910,000 after acquiring an additional 373,196 shares during the last quarter. Finally, Norges Bank acquired a new position in Glacier Bancorp during the second quarter worth about $54,144,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. DA Davidson raised their price target on shares of Glacier Bancorp from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Janney Montgomery Scott started coverage on shares of Glacier Bancorp in a research report on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 target price on the stock. Stephens set a $58.00 price target on shares of Glacier Bancorp in a report on Monday, January 26th. Piper Sandler set a $59.00 price target on Glacier Bancorp and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating on shares of Glacier Bancorp in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.67.

Glacier Bancorp Price Performance

GBCI stock opened at $45.15 on Wednesday. The company has a market capitalization of $5.87 billion, a P/E ratio of 27.04 and a beta of 0.76. The company has a fifty day moving average price of $48.43 and a 200-day moving average price of $46.48. 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, Inc. has a 52-week low of $36.76 and a 52-week high of $53.99.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period last year, the company earned $0.54 earnings per share. As a group, equities analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.