BNP Paribas Financial Markets Boosts Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

BNP Paribas Financial Markets lifted its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 75.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,203 shares of the bank's stock after purchasing an additional 19,814 shares during the quarter. BNP Paribas Financial Markets' holdings in Glacier Bancorp were worth $2,111,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Advantage Alpha Capital Partners LP increased its stake in Glacier Bancorp by 39.3% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 11,863 shares of the bank's stock worth $542,000 after acquiring an additional 3,348 shares during the last quarter. Cerity Partners LLC raised its position in Glacier Bancorp by 30.8% during the third quarter. Cerity Partners LLC now owns 63,857 shares of the bank's stock valued at $2,918,000 after purchasing an additional 15,054 shares in the last quarter. Citigroup Inc. lifted its stake in Glacier Bancorp by 10.5% during the third quarter. Citigroup Inc. now owns 153,489 shares of the bank's stock worth $7,014,000 after purchasing an additional 14,635 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Glacier Bancorp by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank's stock worth $74,402,000 after purchasing an additional 49,006 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Glacier Bancorp by 349.1% during the 3rd quarter. Intech Investment Management LLC now owns 24,931 shares of the bank's stock valued at $1,139,000 after purchasing an additional 19,380 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GBCI. Keefe, Bruyette & Woods boosted their target price on Glacier Bancorp from $50.00 to $62.00 and gave the stock a "market perform" rating in a research report on Wednesday. Piper Sandler boosted their price objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Raymond James upped their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Truist Financial lifted their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a "hold" rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $48.83.

Glacier Bancorp Stock Up 1.0 %

GBCI traded up $0.58 during midday trading on Friday, reaching $57.14. The company's stock had a trading volume of 351,910 shares, compared to its average volume of 534,424. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 35.27 and a beta of 0.79. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp, Inc. has a 1 year low of $34.35 and a 1 year high of $60.67. The stock's 50-day moving average is $52.25 and its 200-day moving average is $44.95.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The firm had revenue of $324.28 million for the quarter, compared to analysts' expectations of $212.57 million. During the same period in the previous year, the firm posted $0.47 EPS. As a group, research analysts expect that Glacier Bancorp, Inc. will post 1.7 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.31%. Glacier Bancorp's payout ratio is presently 81.48%.

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.