FMR LLC reduced its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 52.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 755,049 shares of the bank's stock after selling 816,793 shares during the quarter. FMR LLC owned about 0.67% of Glacier Bancorp worth $34,506,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Glacier Bancorp in the second quarter worth $25,000. GAMMA Investing LLC lifted its position in Glacier Bancorp by 60.4% in the third quarter. GAMMA Investing LLC now owns 2,516 shares of the bank's stock worth $115,000 after buying an additional 947 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Glacier Bancorp by 44.8% in the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank's stock worth $137,000 after buying an additional 927 shares during the last quarter. OneDigital Investment Advisors LLC bought a new stake in Glacier Bancorp in the third quarter worth $252,000. Finally, Intech Investment Management LLC bought a new stake in Glacier Bancorp in the second quarter worth $207,000. 80.17% of the stock is currently owned by institutional investors.
Glacier Bancorp Stock Down 2.1 %
Shares of Glacier Bancorp stock traded down $1.19 during trading on Monday, reaching $55.95. The company's stock had a trading volume of 565,657 shares, compared to its average volume of 639,726. The company has a 50-day simple moving average of $52.45 and a two-hundred day simple moving average of $45.16. Glacier Bancorp, Inc. has a 1-year low of $34.35 and a 1-year high of $60.67. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 34.54 and a beta of 0.79. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.
Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.03. The business had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same quarter in the previous year, the firm earned $0.47 earnings per share. As a group, equities analysts forecast that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.
Glacier Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be paid 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 2.36%. Glacier Bancorp's payout ratio is currently 81.48%.
Wall Street Analyst Weigh In
GBCI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on Glacier Bancorp from $50.00 to $62.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Truist Financial raised their price target on Glacier Bancorp from $50.00 to $53.00 and gave the company a "hold" rating in a research note on Monday, October 28th. Raymond James raised their price target on Glacier Bancorp from $45.00 to $48.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler raised their price target on Glacier Bancorp from $42.00 to $45.00 and gave the company a "neutral" rating in a research note 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 company. Based on data from MarketBeat.com, Glacier Bancorp has a consensus rating of "Hold" and a consensus price target of $48.83.
Read Our Latest Stock Report on GBCI
About Glacier Bancorp
(
Free Report)
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.
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