Venturi Wealth Management LLC Has $137,000 Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Venturi Wealth Management LLC raised its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 44.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,995 shares of the bank’s stock after buying an additional 927 shares during the period. Venturi Wealth Management LLC’s holdings in Glacier Bancorp were worth $137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds 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 in the first quarter valued at about $25,000. SG Americas Securities LLC acquired a new position in shares of Glacier Bancorp during the 1st quarter worth approximately $216,000. Sei Investments Co. raised its stake in shares of Glacier Bancorp by 46.2% during the 1st quarter. Sei Investments Co. now owns 148,305 shares of the bank’s stock worth $5,974,000 after purchasing an additional 46,890 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Glacier Bancorp in the 1st quarter valued at approximately $50,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Glacier Bancorp by 6.7% in the first quarter. Russell Investments Group Ltd. now owns 360,164 shares of the bank’s stock valued at $14,507,000 after buying an additional 22,546 shares in the last quarter. 80.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GBCI. Truist Financial upped their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Raymond James raised their target price 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. Finally, Piper Sandler lifted their price target on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.20.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $56.98 on Thursday. Glacier Bancorp, Inc. has a 52-week low of $32.00 and a 52-week high of $59.19. The stock has a market cap of $6.46 billion, a PE ratio of 35.17 and a beta of 0.77. The firm has a 50-day moving average of $47.67 and a 200-day moving average of $42.63. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The company had revenue of $324.28 million during the quarter, compared to analysts’ expectations of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same quarter in the previous year, the company posted $0.47 earnings per share. On average, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 1.67 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Tuesday, October 8th. Glacier Bancorp’s payout ratio is 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.