Charles Schwab Investment Management Inc. Has $74.40 Million Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Charles Schwab Investment Management Inc. raised its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,628,055 shares of the bank’s stock after buying an additional 49,006 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.44% of Glacier Bancorp worth $74,402,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of Glacier Bancorp in the second quarter worth $25,000. GAMMA Investing LLC boosted its position in 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 acquiring an additional 772 shares during the period. Venturi Wealth Management LLC boosted its position in Glacier Bancorp by 44.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after acquiring an additional 927 shares during the period. Intech Investment Management LLC purchased a new position in Glacier Bancorp during the 2nd quarter valued at about $207,000. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Glacier Bancorp in the 3rd quarter valued at about $252,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. 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. Piper Sandler boosted their price target 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, Truist Financial upped their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.20.

Glacier Bancorp Stock Performance

GBCI stock opened at $58.42 on Friday. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 36.06 and a beta of 0.77. The firm has a 50 day moving average of $50.80 and a two-hundred day moving average of $44.18. 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, Inc. has a 12 month low of $32.00 and a 12 month high of $60.67.

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

Glacier Bancorp Announces Dividend

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 $0.33 dividend. 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 81.48%.

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.