Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 349.1% in the third quarter, Holdings Channel reports. The fund owned 24,931 shares of the bank’s stock after buying an additional 19,380 shares during the period. Intech Investment Management LLC’s holdings in Glacier Bancorp were worth $1,139,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GBCI. Thrivent Financial for Lutherans increased its holdings in shares of Glacier Bancorp by 19.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after acquiring an additional 280,255 shares during the last quarter. Millennium Management LLC increased its stake in Glacier Bancorp by 131.9% in the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after purchasing an additional 271,398 shares during the last quarter. Sei Investments Co. raised its holdings in Glacier Bancorp by 123.9% during the second quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock worth $12,393,000 after purchasing an additional 183,757 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in shares of Glacier Bancorp by 145.0% during the 2nd quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock worth $11,513,000 after buying an additional 182,600 shares during the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Glacier Bancorp by 187.1% in the 2nd quarter. Natixis Advisors LLC now owns 253,014 shares of the bank’s stock valued at $9,442,000 after buying an additional 164,897 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $58.42 on Thursday. The business’s 50-day moving average price is $50.58 and its 200 day moving average price is $44.08. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm has a market cap of $6.62 billion, a P/E ratio of 36.06 and a beta of 0.77. Glacier Bancorp, Inc. has a 52-week low of $32.00 and a 52-week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last released 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 return on equity of 5.84% and a net margin of 14.69%. The business had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. On average, equities research analysts expect that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GBCI. Piper Sandler lifted their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Raymond James boosted 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. Finally, Truist Financial upped their target price on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.