Massachusetts Financial Services Co. MA Reduces Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Massachusetts Financial Services Co. MA lowered its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 1,095,129 shares of the bank’s stock after selling 30,826 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Glacier Bancorp were worth $50,047,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in Glacier Bancorp by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,611,345 shares of the bank’s stock valued at $97,450,000 after acquiring an additional 103,374 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Glacier Bancorp by 19.8% in the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after purchasing an additional 280,255 shares during the last quarter. Victory Capital Management Inc. lifted its position in Glacier Bancorp by 0.4% during the third quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock worth $70,134,000 after buying an additional 6,394 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Glacier Bancorp by 34.6% during the first quarter. Westwood Holdings Group Inc. now owns 485,574 shares of the bank’s stock worth $19,559,000 after buying an additional 124,891 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Glacier Bancorp by 131.9% in the 2nd quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after buying an additional 271,398 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analysts Forecast Growth

GBCI has been the topic of several recent research reports. 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 research report on Monday, October 28th. Piper Sandler boosted their target price on shares of 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 raised their price target 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.20.

Glacier Bancorp Stock Up 2.2 %

GBCI opened at $58.33 on Monday. The business has a 50 day moving average price of $49.78 and a two-hundred day moving average price of $43.70. Glacier Bancorp, Inc. has a 52 week low of $32.00 and a 52 week high of $59.19. The company has a market cap of $6.61 billion, a PE ratio of 36.01 and a beta of 0.77. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.

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

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, December 10th. Glacier Bancorp’s payout ratio is currently 81.48%.

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.