Verition Fund Management LLC Takes Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Verition Fund Management LLC purchased a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,002 shares of the bank's stock, valued at approximately $457,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Glacier Bancorp by 4.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,056 shares of the bank's stock valued at $1,191,000 after purchasing an additional 1,112 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Glacier Bancorp by 75.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,203 shares of the bank's stock worth $2,111,000 after acquiring an additional 19,814 shares during the last quarter. Advantage Alpha Capital Partners LP grew its position in Glacier Bancorp by 39.3% in the third quarter. Advantage Alpha Capital Partners LP now owns 11,863 shares of the bank's stock worth $542,000 after acquiring an additional 3,348 shares in the last quarter. Cerity Partners LLC increased its stake in Glacier Bancorp by 30.8% in the third quarter. Cerity Partners LLC now owns 63,857 shares of the bank's stock valued at $2,918,000 after acquiring an additional 15,054 shares during the last quarter. Finally, Citigroup Inc. raised its position in Glacier Bancorp by 10.5% during the third quarter. Citigroup Inc. now owns 153,489 shares of the bank's stock valued at $7,014,000 after purchasing an additional 14,635 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial upped their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a "hold" 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 note on Wednesday, October 2nd. Piper Sandler lifted their target price on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Glacier Bancorp has an average rating of "Hold" and an average target price of $48.83.

Glacier Bancorp Stock Down 1.4 %

GBCI stock traded down $0.80 during midday trading on Thursday, hitting $55.30. The company's stock had a trading volume of 488,922 shares, compared to its average volume of 637,973. The firm's 50-day moving average is $52.92 and its 200-day moving average is $45.37. 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, Inc. has a 12 month low of $34.35 and a 12 month high of $60.67. The company has a market cap of $6.27 billion, a PE ratio of 34.47 and a beta of 0.79.

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, beating 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 firm had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. During the same quarter last year, the firm posted $0.47 EPS. On average, equities research analysts forecast that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 10th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, December 10th. Glacier Bancorp's dividend payout ratio (DPR) is presently 81.48%.

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.