Holocene Advisors LP Acquires 33,823 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Holocene Advisors LP lifted its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 68.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,433 shares of the bank's stock after purchasing an additional 33,823 shares during the quarter. Holocene Advisors LP owned 0.07% of Glacier Bancorp worth $3,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in GBCI. Cladis Investment Advisory LLC grew its position in Glacier Bancorp by 1.6% in the third quarter. Cladis Investment Advisory LLC now owns 32,698 shares of the bank's stock worth $1,494,000 after acquiring an additional 500 shares in the last quarter. Paloma Partners Management Co acquired a new position in Glacier Bancorp during the third quarter worth $250,000. Verition Fund Management LLC bought a new position in Glacier Bancorp during the third quarter valued at about $457,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Glacier Bancorp by 4.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,056 shares of the bank's stock worth $1,191,000 after buying an additional 1,112 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Glacier Bancorp by 75.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,203 shares of the bank's stock worth $2,111,000 after acquiring an additional 19,814 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GBCI has been the subject of several analyst reports. 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 report on Wednesday. Truist Financial upped their price objective 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. 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, Piper Sandler upped their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, October 28th. One research 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's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $48.83.

Glacier Bancorp Price Performance

Shares of GBCI traded up $0.58 during mid-day trading on Friday, reaching $57.14. The company had a trading volume of 351,870 shares, compared to its average volume of 640,039. The company's 50-day moving average is $52.01 and its 200-day moving average is $44.83. 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 company has a market capitalization of $6.48 billion, a P/E ratio of 34.91 and a beta of 0.79. Glacier Bancorp, Inc. has a twelve month low of $34.35 and a twelve month 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 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The company had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. During the same quarter in the previous year, the company earned $0.47 EPS. On average, equities analysts anticipate that Glacier Bancorp, Inc. will post 1.7 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Tuesday, December 10th. Glacier Bancorp's dividend payout ratio (DPR) is currently 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.