NFJ Investment Group LLC Sells 51,426 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

NFJ Investment Group LLC decreased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 40.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,584 shares of the bank's stock after selling 51,426 shares during the quarter. NFJ Investment Group LLC owned approximately 0.07% of Glacier Bancorp worth $3,500,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its position in Glacier Bancorp by 20,598.6% during the second quarter. Blue Trust Inc. now owns 14,903 shares of the bank's stock valued at $600,000 after buying an additional 14,831 shares during the period. LMR Partners LLP bought a new position in Glacier Bancorp during the third quarter valued at about $543,000. &PARTNERS grew its position in Glacier Bancorp by 134.1% during the second quarter. &PARTNERS now owns 57,563 shares of the bank's stock valued at $2,148,000 after buying an additional 32,969 shares during the period. Natixis Advisors LLC grew its position in Glacier Bancorp by 30.9% during the third quarter. Natixis Advisors LLC now owns 331,121 shares of the bank's stock valued at $15,132,000 after buying an additional 78,107 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in Glacier Bancorp by 2.9% during the second quarter. Thrivent Financial for Lutherans now owns 1,414,154 shares of the bank's stock valued at $52,776,000 after buying an additional 40,120 shares during the period. Institutional investors own 80.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company 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 company a "hold" rating in a report on Monday, October 28th. Raymond James upped 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. Finally, Piper Sandler upped their price objective 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $48.83.

Glacier Bancorp Price Performance

Shares of Glacier Bancorp stock traded down $0.51 on Wednesday, reaching $56.78. The stock had a trading volume of 254,101 shares, compared to its average volume of 640,894. Glacier Bancorp, Inc. has a 1 year low of $34.35 and a 1 year high of $60.67. The company has a market cap of $6.44 billion, a P/E ratio of 34.91 and a beta of 0.79. 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 business's 50 day moving average is $51.52 and its two-hundred day moving average is $44.66.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its quarterly 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. The firm had revenue of $324.28 million for the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.47 earnings per share. As a group, research analysts anticipate that Glacier Bancorp, Inc. will post 1.7 EPS for the current 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 paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Tuesday, December 10th. Glacier Bancorp's dividend payout ratio 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.