Glacier Bancorp, Inc. (NASDAQ:GBCI) Stake Cut by Blue Trust Inc.

Blue Trust Inc. lessened its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 88.3% in the third quarter, HoldingsChannel.com reports. The firm owned 1,737 shares of the bank’s stock after selling 13,166 shares during the period. Blue Trust Inc.’s holdings in Glacier Bancorp were worth $79,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning boosted its holdings in shares of Glacier Bancorp by 19.0% in the 3rd quarter. Creative Planning now owns 43,794 shares of the bank’s stock valued at $2,001,000 after buying an additional 7,002 shares during the period. GAMMA Investing LLC lifted its holdings in Glacier Bancorp by 60.4% in the third quarter. GAMMA Investing LLC now owns 2,516 shares of the bank’s stock worth $115,000 after acquiring an additional 947 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Glacier Bancorp by 26.2% in the third quarter. Handelsbanken Fonder AB now owns 29,874 shares of the bank’s stock valued at $1,365,000 after acquiring an additional 6,200 shares during the period. Allied Investment Advisors LLC boosted its stake in Glacier Bancorp by 4.5% in the third quarter. Allied Investment Advisors LLC now owns 14,831 shares of the bank’s stock valued at $678,000 after acquiring an additional 643 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Glacier Bancorp by 19.9% during the third quarter. SG Americas Securities LLC now owns 11,404 shares of the bank’s stock valued at $521,000 after purchasing an additional 1,894 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

GBCI has been the topic of several recent research reports. Piper Sandler raised their price target on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday. Raymond James raised their target price on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial boosted their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and an average price target of $46.20.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $53.30 on Thursday. The business has a 50 day simple moving average of $46.20 and a 200 day simple moving average of $41.45. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 32.90 and a beta of 0.80. Glacier Bancorp, Inc. has a 12-month low of $29.35 and a 12-month high of $53.93.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 6.06% and a net margin of 15.15%. During the same quarter in the prior year, the business posted $0.47 earnings per share. On average, equities research analysts anticipate that Glacier Bancorp, Inc. will post 1.63 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 annualized dividend and a yield of 2.48%. Glacier Bancorp’s payout ratio is 81.48%.

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.