Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 21.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 318,956 shares of the bank’s stock after selling 84,535 shares during the period. JPMorgan Chase & Co.’s holdings in Glacier Bancorp were worth $14,576,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Glacier Bancorp by 60.4% during the third quarter. GAMMA Investing LLC now owns 2,516 shares of the bank’s stock worth $115,000 after buying an additional 947 shares in the last quarter. Venturi Wealth Management LLC lifted 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 acquiring an additional 927 shares during the last quarter. Wolverine Trading LLC bought a new stake in shares of Glacier Bancorp during the 3rd quarter worth $205,000. Intech Investment Management LLC bought a new stake in shares of Glacier Bancorp during the 2nd quarter worth $207,000. Finally, Paloma Partners Management Co acquired a new position in shares of Glacier Bancorp in the 3rd quarter worth $250,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GBCI. Raymond James upped their target price on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Piper Sandler raised their target price on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Truist Financial lifted their target price 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.83.

Glacier Bancorp Trading Down 2.8 %

NASDAQ:GBCI opened at $47.79 on Friday. The stock has a market cap of $5.42 billion, a PE ratio of 29.50 and a beta of 0.81. Glacier Bancorp, Inc. has a fifty-two week low of $34.35 and a fifty-two week high of $60.67. 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 50-day moving average is $54.11 and its two-hundred day moving average is $47.54.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The firm 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 5.84% and a net margin of 14.69%. During the same quarter last year, the firm 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 fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 10th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio is currently 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.