162,872 Shares in Glacier Bancorp, Inc. (NASDAQ:GBCI) Bought by Pier Capital LLC

Pier Capital LLC acquired a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 162,872 shares of the bank's stock, valued at approximately $7,443,000. Pier Capital LLC owned about 0.14% of Glacier Bancorp at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GBCI. International Assets Investment Management LLC acquired a new stake in shares of Glacier Bancorp in the 2nd quarter valued at approximately $25,000. GAMMA Investing LLC boosted its holdings 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 buying an additional 772 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Glacier Bancorp by 44.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank's stock valued at $137,000 after buying an additional 927 shares during the last quarter. Wolverine Trading LLC acquired a new stake in shares of Glacier Bancorp in the 3rd quarter valued at approximately $205,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Glacier Bancorp in the 2nd quarter valued at approximately $207,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Glacier Bancorp Stock Performance

Shares of GBCI traded up $0.58 during midday trading on Friday, reaching $57.14. 351,910 shares of the stock were exchanged, compared to its average volume of 534,424. Glacier Bancorp, Inc. has a twelve month low of $34.35 and a twelve month high of $60.67. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The company has a market cap of $6.48 billion, a P/E ratio of 35.27 and a beta of 0.79. The stock's 50 day simple moving average is $52.25 and its 200 day simple moving average is $45.04.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its 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 return on equity of 5.84% and a net margin of 14.69%. The company had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same quarter last year, the firm earned $0.47 earnings per share. On average, sell-side analysts expect that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 10th will be given 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 payout ratio is currently 81.48%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GBCI. Raymond James increased their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price target on Glacier Bancorp from $50.00 to $62.00 and gave the company a "market perform" rating in a report on Wednesday. Piper Sandler raised their price target on Glacier Bancorp from $42.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Glacier Bancorp presently has a consensus rating of "Hold" and a consensus target price of $48.83.

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.