Mutual of America Capital Management LLC Sells 3,633 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Mutual of America Capital Management LLC cut its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 5.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,285 shares of the bank’s stock after selling 3,633 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Glacier Bancorp worth $2,801,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GBCI. CANADA LIFE ASSURANCE Co increased its position in shares of Glacier Bancorp by 21.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock worth $3,160,000 after purchasing an additional 13,655 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Glacier Bancorp by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 81,150 shares of the bank’s stock valued at $3,269,000 after buying an additional 4,069 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of Glacier Bancorp in the 1st quarter valued at approximately $477,000. Kahn Brothers Group Inc. bought a new position in shares of Glacier Bancorp during the first quarter worth $252,000. Finally, Cetera Advisors LLC lifted its holdings in Glacier Bancorp by 34.9% during the first quarter. Cetera Advisors LLC now owns 12,596 shares of the bank’s stock worth $507,000 after acquiring an additional 3,256 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial upped their price objective on 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 lifted their price target on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler increased their price objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and a consensus target price of $46.20.

Glacier Bancorp Price Performance

GBCI stock opened at $58.33 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $49.78 and its 200 day simple moving average is $43.67. Glacier Bancorp, Inc. has a 12-month low of $32.00 and a 12-month high of $59.19. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 36.01 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same period in the previous year, the company posted $0.47 earnings per share. On average, analysts expect that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Tuesday, December 10th. Glacier Bancorp’s payout ratio is 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.