Thrivent Financial for Lutherans Raises Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Thrivent Financial for Lutherans lifted its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 19.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,694,409 shares of the bank's stock after purchasing an additional 280,255 shares during the quarter. Thrivent Financial for Lutherans owned about 1.49% of Glacier Bancorp worth $77,435,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GBCI. Allspring Global Investments Holdings LLC acquired a new stake in shares of Glacier Bancorp during the first quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in shares of Glacier Bancorp in the 2nd quarter worth $25,000. GAMMA Investing LLC boosted its position 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 worth $59,000 after buying an additional 772 shares during the period. Venturi Wealth Management LLC boosted its position in Glacier Bancorp by 44.8% during the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank's stock valued at $137,000 after purchasing an additional 927 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Glacier Bancorp in the second quarter worth about $207,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on GBCI shares. Piper Sandler boosted their price target on Glacier Bancorp from $42.00 to $45.00 and gave the company a "neutral" rating in a research note 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 research report on Wednesday, October 2nd. Finally, Truist Financial increased their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a "hold" rating in a report 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $46.20.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI traded up $0.19 during trading on Monday, reaching $56.43. The company had a trading volume of 452,341 shares, compared to its average volume of 649,441. The company has a fifty day moving average of $48.41 and a two-hundred day moving average of $43.05. The stock has a market capitalization of $6.40 billion, a P/E ratio of 34.72 and a beta of 0.77. Glacier Bancorp, Inc. has a 12 month low of $32.00 and a 12 month high of $59.19. 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 (NASDAQ:GBCI - Get Free Report) last posted its earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The firm had revenue of $324.28 million during the quarter, compared to analysts' expectations of $212.57 million. During the same period last year, the company posted $0.47 EPS. Equities research analysts forecast that Glacier Bancorp, Inc. will post 1.67 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Tuesday, October 8th. Glacier Bancorp's 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.