Massachusetts Financial Services Co. MA Has $50.05 Million Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 2.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,095,129 shares of the bank's stock after selling 30,826 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.97% of Glacier Bancorp worth $50,047,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GBCI. Pacer Advisors Inc. boosted its position in shares of Glacier Bancorp by 2.6% in the 2nd quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank's stock valued at $632,000 after purchasing an additional 427 shares during the period. Inspire Investing LLC boosted its position in shares of Glacier Bancorp by 6.7% in the 2nd quarter. Inspire Investing LLC now owns 9,472 shares of the bank's stock valued at $353,000 after purchasing an additional 593 shares during the period. Hsbc Holdings PLC lifted its stake in Glacier Bancorp by 7.6% in the 2nd quarter. Hsbc Holdings PLC now owns 8,498 shares of the bank's stock worth $317,000 after acquiring an additional 600 shares in the last quarter. Allied Investment Advisors LLC lifted its stake in Glacier Bancorp by 4.5% in the 3rd quarter. Allied Investment Advisors LLC now owns 14,831 shares of the bank's stock worth $678,000 after acquiring an additional 643 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Glacier Bancorp in the 2nd quarter worth about $25,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Wall Street Analysts Forecast Growth

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

Glacier Bancorp Stock Performance

GBCI traded up $1.21 during midday trading on Monday, reaching $59.54. The company's stock had a trading volume of 405,336 shares, compared to its average volume of 645,201. The stock has a market cap of $6.75 billion, a P/E ratio of 36.01 and a beta of 0.77. The company has a fifty day simple moving average of $49.78 and a 200 day simple moving average of $43.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp, Inc. has a twelve month low of $32.00 and a twelve month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. The firm 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 last year, the firm posted $0.47 EPS. Research analysts expect that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The company also recently disclosed 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 2.22%. The ex-dividend date of this dividend 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.