Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.8% in the third quarter, Holdings Channel reports. The fund owned 221,421 shares of the bank’s stock after selling 1,700 shares during the period. Swiss National Bank’s holdings in Glacier Bancorp were worth $10,119,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in Glacier Bancorp during the second quarter worth about $25,000. GAMMA Investing LLC increased its holdings in shares of Glacier Bancorp by 96.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after buying an additional 772 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Glacier Bancorp by 44.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock valued at $137,000 after buying an additional 927 shares during the period. OneDigital Investment Advisors LLC acquired a new position in shares of Glacier Bancorp in the 3rd quarter valued at $252,000. Finally, Intech Investment Management LLC purchased a new position in shares of Glacier Bancorp during the 2nd quarter worth $207,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $58.33 on Monday. The stock’s 50-day moving average is $49.78 and its two-hundred day moving average is $43.70. 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 company has a market cap of $6.61 billion, a price-to-earnings ratio of 36.01 and a beta of 0.77. Glacier Bancorp, Inc. has a 1-year low of $32.00 and a 1-year high of $59.19.

Glacier Bancorp (NASDAQ:GBCI) last released 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 firm had revenue of $324.28 million for the quarter, compared to analyst estimates 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 prior year, the firm earned $0.47 earnings per share. Analysts forecast that Glacier Bancorp, Inc. will post 1.7 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%.

Analyst Ratings Changes

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

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.