D.A. Davidson & CO. Sells 10,804 Shares of Glacier Bancorp, Inc. $GBCI

D.A. Davidson & CO. lowered its stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI) by 8.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 115,835 shares of the company’s stock after selling 10,804 shares during the period. D.A. Davidson & CO. owned approximately 0.09% of Glacier Bancorp worth $5,174,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new position in Glacier Bancorp during the fourth quarter valued at about $67,582,000. Vanguard Group Inc. lifted its position in shares of Glacier Bancorp by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock worth $588,471,000 after acquiring an additional 870,335 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Glacier Bancorp in the 1st quarter worth approximately $33,197,000. Balyasny Asset Management L.P. acquired a new stake in shares of Glacier Bancorp during the 2nd quarter worth approximately $24,362,000. Finally, State Street Corp grew its holdings in shares of Glacier Bancorp by 9.9% during the 4th quarter. State Street Corp now owns 6,178,363 shares of the company’s stock worth $272,157,000 after purchasing an additional 557,873 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on GBCI shares. Piper Sandler raised their target price on Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Stephens raised their price target on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Finally, DA Davidson raised their target price on Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.17.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $53.52 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $6.96 billion, a PE ratio of 25.01 and a beta of 0.72. The stock has a 50-day moving average of $49.21 and a 200-day moving average of $48.08. Glacier Bancorp, Inc. has a one year low of $39.90 and a one year high of $54.58.

Glacier Bancorp (NYSE:GBCI) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. The business had revenue of $309.61 million for the quarter. During the same period in the previous year, the business earned $0.48 EPS. As a group, sell-side analysts expect that Glacier Bancorp, Inc. will post 3.16 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio is presently 61.68%.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.