Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC reduced its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,750 shares of the bank’s stock after selling 1,000 shares during the period. Lake Street Private Wealth LLC’s holdings in Glacier Bancorp were worth $876,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GBCI. State of Michigan Retirement System raised its position in shares of Glacier Bancorp by 2.3% in the first quarter. State of Michigan Retirement System now owns 27,236 shares of the bank’s stock valued at $1,097,000 after buying an additional 600 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Glacier Bancorp during the 1st quarter worth $25,000. Bridge City Capital LLC lifted its stake in shares of Glacier Bancorp by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 104,445 shares of the bank’s stock worth $4,207,000 after purchasing an additional 815 shares during the period. &PARTNERS acquired a new stake in shares of Glacier Bancorp during the first quarter worth $991,000. Finally, Allied Investment Advisors LLC grew its position in shares of Glacier Bancorp by 10.2% in the first quarter. Allied Investment Advisors LLC now owns 14,188 shares of the bank’s stock valued at $571,000 after purchasing an additional 1,319 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Wall Street Analysts Forecast Growth

GBCI has been the subject of several recent analyst reports. Stephens lowered their price target on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Truist Financial decreased their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Finally, DA Davidson cut their target price on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. One research 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $36.74 on Thursday. The company’s fifty day simple moving average is $37.14 and its 200-day simple moving average is $38.27. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. Glacier Bancorp, Inc. has a 52 week low of $26.83 and a 52 week high of $44.06. The company has a market cap of $4.17 billion, a PE ratio of 21.49 and a beta of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company had revenue of $196.47 million during the quarter, compared to analysts’ expectations of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period last year, the business earned $0.55 earnings per share. As a group, equities research analysts anticipate that Glacier Bancorp, Inc. will post 1.64 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Tuesday, July 9th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, July 9th. This represents a $1.32 annualized dividend and a dividend yield of 3.59%. Glacier Bancorp’s payout ratio is currently 75.43%.

Glacier Bancorp Company 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.