Citigroup Inc. Buys 14,635 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Citigroup Inc. raised its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 10.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 153,489 shares of the bank's stock after purchasing an additional 14,635 shares during the period. Citigroup Inc. owned about 0.14% of Glacier Bancorp worth $7,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in Glacier Bancorp in the second quarter worth $25,000. GAMMA Investing LLC grew its position in shares of Glacier Bancorp by 96.9% during the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank's stock worth $59,000 after acquiring an additional 772 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Glacier Bancorp by 44.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank's stock worth $137,000 after acquiring an additional 927 shares during the period. OneDigital Investment Advisors LLC bought a new stake in Glacier Bancorp in the 3rd quarter valued at about $252,000. Finally, Intech Investment Management LLC acquired a new position in Glacier Bancorp during the 2nd quarter valued at about $207,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Trading Down 0.9 %

NASDAQ GBCI traded down $0.53 on Friday, hitting $57.89. 248,807 shares of the company were exchanged, compared to its average volume of 630,224. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $6.56 billion, a P/E ratio of 35.73 and a beta of 0.77. Glacier Bancorp, Inc. has a twelve month low of $33.23 and a twelve month high of $60.67. The company's 50 day moving average price is $51.04 and its 200-day moving average price is $44.36.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $212.57 million. During the same period in the prior year, the business earned $0.47 EPS. Analysts predict that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

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. This represents a $1.32 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Tuesday, December 10th. Glacier Bancorp's dividend payout ratio is currently 81.48%.

Analyst Upgrades and Downgrades

GBCI has been the subject of a number of recent analyst reports. Piper Sandler increased their target price on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Raymond James raised their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Finally, Truist Financial boosted their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a "hold" rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $46.20.

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.