Cerity Partners LLC Raises Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Cerity Partners LLC grew its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 30.8% during the third quarter, Holdings Channel reports. The fund owned 63,857 shares of the bank’s stock after purchasing an additional 15,054 shares during the period. Cerity Partners LLC’s holdings in Glacier Bancorp were worth $2,918,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Glacier Bancorp during the second quarter worth about $25,000. GAMMA Investing LLC boosted its position in shares of Glacier Bancorp by 96.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after purchasing an additional 772 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Glacier Bancorp by 44.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after purchasing an additional 927 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of Glacier Bancorp in the 3rd quarter worth approximately $252,000. Finally, Intech Investment Management LLC bought a new position in Glacier Bancorp during the 2nd quarter valued at approximately $207,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $57.89 on Friday. Glacier Bancorp, Inc. has a one year low of $33.23 and a one year high of $60.67. The stock has a 50-day moving average of $51.04 and a 200 day moving average of $44.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 35.73 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. The firm had revenue of $324.28 million during the quarter, compared to analysts’ expectations of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same period in the previous year, the company earned $0.47 earnings per share. On average, sell-side analysts forecast that Glacier Bancorp, Inc. will post 1.7 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.28%. Glacier Bancorp’s payout ratio is 81.48%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GBCI shares. Piper Sandler increased their target price on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Truist Financial increased their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, Raymond James lifted their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.20.

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.