PNC Financial Services Group Inc. Sells 1,487 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

PNC Financial Services Group Inc. decreased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,719 shares of the bank’s stock after selling 1,487 shares during the period. PNC Financial Services Group Inc.’s holdings in Glacier Bancorp were worth $608,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GBCI. Cooke & Bieler LP boosted its holdings in Glacier Bancorp by 34.0% in the fourth quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock valued at $133,847,000 after acquiring an additional 821,199 shares during the last quarter. Norges Bank bought a new position in Glacier Bancorp during the fourth quarter worth about $32,617,000. Capital Research Global Investors boosted its holdings in Glacier Bancorp by 124.7% during the fourth quarter. Capital Research Global Investors now owns 1,200,908 shares of the bank’s stock worth $49,622,000 after buying an additional 666,478 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Glacier Bancorp by 5,065.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 586,360 shares of the bank’s stock worth $24,228,000 after buying an additional 575,008 shares during the last quarter. Finally, Capital International Investors boosted its holdings in Glacier Bancorp by 45.1% during the fourth quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after buying an additional 566,513 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GBCI shares. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a report on Thursday, June 6th. DA Davidson reduced their target price on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Stephens reduced their target price on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 23rd. Finally, Truist Financial reduced their target price on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.40.

Glacier Bancorp Trading Up 0.8 %

NASDAQ GBCI opened at $35.95 on Thursday. The firm has a market cap of $4.08 billion, a P/E ratio of 20.54 and a beta of 0.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79. The stock’s 50-day moving average is $37.11 and its 200-day moving average is $38.39. Glacier Bancorp, Inc. has a one year low of $26.83 and a one year high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. During the same period in the prior year, the business posted $0.55 EPS. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. Sell-side analysts anticipate that Glacier Bancorp, Inc. will post 1.64 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Tuesday, July 9th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, July 9th. Glacier Bancorp’s dividend payout ratio is presently 75.43%.

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.