Nisa Investment Advisors LLC Cuts Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Nisa Investment Advisors LLC cut its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 52.4% in the third quarter, Holdings Channel reports. The fund owned 3,630 shares of the bank’s stock after selling 4,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Glacier Bancorp were worth $166,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GBCI. State of Alaska Department of Revenue raised its holdings in shares of Glacier Bancorp by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 13,216 shares of the bank’s stock valued at $603,000 after purchasing an additional 890 shares in the last quarter. Argent Capital Management LLC increased its holdings in Glacier Bancorp by 15.1% during the third quarter. Argent Capital Management LLC now owns 12,558 shares of the bank’s stock valued at $574,000 after buying an additional 1,645 shares during the period. Creative Planning raised its stake in Glacier Bancorp by 19.0% in the third quarter. Creative Planning now owns 43,794 shares of the bank’s stock worth $2,001,000 after buying an additional 7,002 shares in the last quarter. GAMMA Investing LLC raised its stake in Glacier Bancorp by 60.4% in 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. Finally, Handelsbanken Fonder AB lifted its holdings in Glacier Bancorp by 26.2% during the third quarter. Handelsbanken Fonder AB now owns 29,874 shares of the bank’s stock worth $1,365,000 after buying an additional 6,200 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Trading Up 11.1 %

Shares of NASDAQ:GBCI opened at $57.90 on Thursday. The business’s 50-day moving average is $46.88 and its 200 day moving average is $42.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. Glacier Bancorp, Inc. has a 1 year low of $30.18 and a 1 year high of $58.50. The firm has a market capitalization of $6.57 billion, a P/E ratio of 35.74 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The firm had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same quarter in the prior year, the company posted $0.47 earnings per share. On average, research analysts predict that Glacier Bancorp, Inc. will post 1.65 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were issued a $0.33 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.28%. Glacier Bancorp’s dividend payout ratio is currently 81.48%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler boosted their price target on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Truist Financial boosted their target price 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, Raymond James raised their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company 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 stock. Based on data from MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and a consensus price target of $46.20.

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.