Glacier Bancorp, Inc. (NASDAQ:GBCI) Stake Cut by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,404 shares of the bank’s stock after selling 731 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Glacier Bancorp were worth $2,349,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Glacier Bancorp in the 1st quarter valued at about $25,000. International Assets Investment Management LLC bought a new position in shares of Glacier Bancorp during the second quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new stake in shares of Glacier Bancorp during the 1st quarter worth approximately $50,000. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 772 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Glacier Bancorp in the 1st quarter worth approximately $216,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 0.3 %

NASDAQ:GBCI opened at $56.98 on Thursday. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 35.28 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. Glacier Bancorp, Inc. has a 1 year low of $32.00 and a 1 year high of $59.19. The business has a fifty day moving average of $47.67 and a 200-day moving average of $42.63.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results 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. 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 analyst estimates of $212.57 million. During the same quarter in the prior year, the firm posted $0.47 EPS. Equities analysts predict that Glacier Bancorp, Inc. will post 1.67 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, October 8th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 annualized dividend and a yield of 2.32%. Glacier Bancorp’s payout ratio is 81.48%.

Analyst Upgrades and Downgrades

GBCI has been the topic of several analyst reports. Truist Financial increased their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Piper Sandler increased their price objective 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. Finally, Raymond James lifted their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.20.

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.