The Manufacturers Life Insurance Company Lowers Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 133,726 shares of the bank’s stock after selling 4,801 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Glacier Bancorp were worth $6,111,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Cerity Partners LLC boosted its position in Glacier Bancorp by 30.8% during the 3rd quarter. Cerity Partners LLC now owns 63,857 shares of the bank’s stock valued at $2,918,000 after acquiring an additional 15,054 shares in the last quarter. Citigroup Inc. boosted its position in Glacier Bancorp by 10.5% during the third quarter. Citigroup Inc. now owns 153,489 shares of the bank’s stock valued at $7,014,000 after purchasing an additional 14,635 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Glacier Bancorp by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock valued at $74,402,000 after purchasing an additional 49,006 shares in the last quarter. Intech Investment Management LLC grew its stake in Glacier Bancorp by 349.1% in the third quarter. Intech Investment Management LLC now owns 24,931 shares of the bank’s stock valued at $1,139,000 after purchasing an additional 19,380 shares during the last quarter. Finally, LMR Partners LLP bought a new position in Glacier Bancorp in the third quarter worth about $543,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $56.56 on Friday. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 34.91 and a beta of 0.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s fifty day moving average price is $52.01 and its 200 day moving average price is $44.83. Glacier Bancorp, Inc. has a 1 year low of $34.35 and a 1 year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The business had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. During the same period in the prior year, the company earned $0.47 earnings per share. As a group, equities research analysts forecast that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 10th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.32 annualized dividend and a yield of 2.33%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GBCI. Truist Financial lifted their price objective 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. Keefe, Bruyette & Woods upped their price target on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday. Piper Sandler increased their price objective on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Finally, Raymond James boosted their target price on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.83.

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.