JPMorgan Chase & Co. Sells 84,535 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

JPMorgan Chase & Co. lessened its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 21.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 318,956 shares of the bank's stock after selling 84,535 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.28% of Glacier Bancorp worth $14,576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GBCI. Barclays PLC increased its stake in shares of Glacier Bancorp by 65.6% during the third quarter. Barclays PLC now owns 247,717 shares of the bank's stock valued at $11,321,000 after purchasing an additional 98,158 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Glacier Bancorp by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank's stock worth $132,662,000 after buying an additional 41,160 shares during the last quarter. BNP Paribas Financial Markets increased its position in Glacier Bancorp by 75.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,203 shares of the bank's stock valued at $2,111,000 after buying an additional 19,814 shares in the last quarter. LMR Partners LLP purchased a new position in Glacier Bancorp during the third quarter valued at $543,000. Finally, Synovus Financial Corp boosted its holdings in Glacier Bancorp by 79.2% in the third quarter. Synovus Financial Corp now owns 32,484 shares of the bank's stock worth $1,485,000 after acquiring an additional 14,359 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GBCI. Truist Financial raised their price target on Glacier Bancorp from $50.00 to $53.00 and gave the company a "hold" rating in a report on Monday, October 28th. Piper Sandler increased their price objective 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 lifted their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $48.83.

Glacier Bancorp Stock Performance

NASDAQ:GBCI traded down $1.36 during mid-day trading on Friday, reaching $47.79. The company's stock had a trading volume of 551,200 shares, compared to its average volume of 513,683. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market cap of $5.42 billion, a P/E ratio of 29.50 and a beta of 0.81. The firm's fifty day moving average price is $54.11 and its two-hundred day moving average price is $47.62. Glacier Bancorp, Inc. has a 12-month low of $34.35 and a 12-month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced 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. The firm had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same period in the previous year, the business posted $0.47 earnings per share. On average, equities analysts forecast that Glacier Bancorp, Inc. will post 1.7 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.76%. Glacier Bancorp's payout ratio is 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.