Geode Capital Management LLC Has $132.66 Million Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Geode Capital Management LLC grew its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,902,373 shares of the bank's stock after purchasing an additional 41,160 shares during the quarter. Geode Capital Management LLC owned approximately 2.56% of Glacier Bancorp worth $132,662,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in Glacier Bancorp in the 2nd quarter valued at about $25,000. GAMMA Investing LLC increased its stake in shares of Glacier Bancorp by 60.4% during the third quarter. GAMMA Investing LLC now owns 2,516 shares of the bank's stock worth $115,000 after purchasing an additional 947 shares during the period. Venturi Wealth Management LLC lifted its holdings in Glacier Bancorp by 44.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank's stock worth $137,000 after purchasing an additional 927 shares during the last quarter. Wolverine Trading LLC acquired a new stake in Glacier Bancorp during the 3rd quarter worth approximately $205,000. Finally, Paloma Partners Management Co bought a new stake in Glacier Bancorp in the 3rd quarter valued at $250,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on GBCI shares. Piper Sandler lifted their target price on Glacier Bancorp from $42.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Raymond James boosted their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Finally, Truist Financial boosted 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $48.83.

Glacier Bancorp Price Performance

Shares of Glacier Bancorp stock traded down $1.39 on Tuesday, reaching $53.01. 752,036 shares of the stock were exchanged, compared to its average volume of 638,603. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $6.01 billion, a PE ratio of 32.72 and a beta of 0.79. The firm's 50 day moving average is $53.66 and its 200-day moving average is $45.91. Glacier Bancorp, Inc. has a one year low of $34.35 and a one year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (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 business had revenue of $324.28 million during the quarter, compared to analysts' expectations of $212.57 million. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, analysts anticipate that Glacier Bancorp, Inc. will post 1.7 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 10th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.49%. The ex-dividend date is Tuesday, December 10th. Glacier Bancorp's payout ratio is presently 81.48%.

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.