Principal Financial Group Inc. Sells 117,123 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Principal Financial Group Inc. lessened its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 30.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 263,199 shares of the bank's stock after selling 117,123 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Glacier Bancorp worth $12,028,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Glacier Bancorp in the 1st quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new position in shares of Glacier Bancorp in the second quarter valued at $25,000. GAMMA Investing LLC grew its holdings in shares of Glacier Bancorp by 96.9% in the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank's stock valued at $59,000 after purchasing an additional 772 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Glacier Bancorp in the second quarter valued at $207,000. Finally, SG Americas Securities LLC purchased a new position in shares of Glacier Bancorp in the first quarter valued at $216,000. Hedge funds and other institutional investors own 80.17% of the company's stock.

Glacier Bancorp Stock Up 0.4 %

Shares of NASDAQ GBCI traded up $0.25 during midday trading on Monday, hitting $56.49. 452,341 shares of the company's stock were exchanged, compared to its average volume of 649,441. The company has a market cap of $6.41 billion, a PE ratio of 34.72 and a beta of 0.77. Glacier Bancorp, Inc. has a twelve month low of $32.00 and a twelve month high of $59.19. The firm's fifty day simple moving average is $48.41 and its 200-day simple moving average is $43.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The firm had revenue of $324.28 million during the quarter, compared to analysts' expectations of $212.57 million. During the same period in the previous year, the firm posted $0.47 earnings per share. Research analysts predict that Glacier Bancorp, Inc. will post 1.67 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were paid a $0.33 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.34%. Glacier Bancorp's payout ratio is currently 81.48%.

Analysts Set New Price Targets

Several research firms have commented on GBCI. Piper Sandler lifted their price objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Raymond James lifted their target price on Glacier Bancorp from $45.00 to $48.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. Finally, Truist Financial lifted their price objective on Glacier Bancorp from $50.00 to $53.00 and gave the company a "hold" rating in a report on Monday, October 28th. One research 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, the company currently has an average rating of "Hold" and an average 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.