Texas Permanent School Fund Corp Raises Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Texas Permanent School Fund Corp grew its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,208 shares of the bank’s stock after acquiring an additional 585 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Glacier Bancorp were worth $3,875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Federated Hermes Inc. lifted its position in shares of Glacier Bancorp by 3.2% in the fourth quarter. Federated Hermes Inc. now owns 9,580 shares of the bank’s stock valued at $396,000 after acquiring an additional 300 shares in the last quarter. Xponance Inc. lifted its position in Glacier Bancorp by 2.0% during the fourth quarter. Xponance Inc. now owns 16,355 shares of the bank’s stock worth $676,000 after buying an additional 326 shares during the period. CWM LLC boosted its stake in Glacier Bancorp by 0.9% in the 1st quarter. CWM LLC now owns 35,864 shares of the bank’s stock worth $1,445,000 after buying an additional 331 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Glacier Bancorp by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 139,241 shares of the bank’s stock valued at $5,609,000 after buying an additional 370 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Glacier Bancorp by 409.4% during the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after acquiring an additional 479 shares during the last quarter. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Price Performance

GBCI stock opened at $39.40 on Friday. The stock has a 50-day moving average price of $37.16 and a two-hundred day moving average price of $38.02. Glacier Bancorp, Inc. has a 12-month low of $26.83 and a 12-month high of $44.06. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The company has a market cap of $4.47 billion, a PE ratio of 22.51 and a beta of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm had revenue of $196.47 million for the quarter, compared to analysts’ expectations of $202.66 million. During the same period last year, the firm posted $0.55 EPS. Glacier Bancorp’s revenue was down 8.2% on a year-over-year basis. As a group, research analysts predict that Glacier Bancorp, Inc. will post 1.64 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, July 9th. Glacier Bancorp’s payout ratio is 75.43%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Stephens decreased their target price on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. DA Davidson decreased their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Truist Financial dropped their price objective on Glacier Bancorp from $40.00 to $38.00 and set a “hold” rating for the company in a report on Monday, July 8th. Finally, StockNews.com upgraded Glacier Bancorp to a “sell” rating in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.00.

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.