Raymond James & Associates Lowers Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Raymond James & Associates trimmed its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 13.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,481 shares of the bank's stock after selling 20,288 shares during the period. Raymond James & Associates owned about 0.12% of Glacier Bancorp worth $6,146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GBCI. Allspring Global Investments Holdings LLC bought a new position in shares of Glacier Bancorp in the 1st quarter worth about $25,000. International Assets Investment Management LLC bought a new position in shares of Glacier Bancorp during the 2nd quarter worth approximately $25,000. Headlands Technologies LLC acquired a new stake in shares of Glacier Bancorp during the 1st quarter worth approximately $50,000. GAMMA Investing LLC increased its stake in shares of Glacier Bancorp by 96.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank's stock valued at $59,000 after acquiring an additional 772 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Glacier Bancorp in the second quarter valued at $207,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

GBCI stock traded down $0.52 during midday trading on Friday, hitting $51.63. The company's stock had a trading volume of 732,092 shares, compared to its average volume of 644,916. Glacier Bancorp, Inc. has a 1 year low of $30.18 and a 1 year high of $53.93. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 31.87 and a beta of 0.80. The stock's 50-day moving average price is $46.45 and its 200 day moving average price is $41.63. 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. 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 period in the previous year, the firm earned $0.47 EPS. On average, equities analysts forecast that Glacier Bancorp, Inc. will post 1.65 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Tuesday, October 8th. Glacier Bancorp's dividend payout ratio is currently 81.48%.

Wall Street Analyst Weigh In

GBCI has been the topic of a number of research reports. Raymond James upped their price target 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 objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Truist Financial upped their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a "hold" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Glacier Bancorp presently has a consensus rating of "Hold" and a consensus target price of $46.20.

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.