Verition Fund Management LLC Buys New Shares in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Verition Fund Management LLC purchased a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,002 shares of the bank’s stock, valued at approximately $457,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in Glacier Bancorp by 77.6% during the second quarter. SG Americas Securities LLC now owns 9,510 shares of the bank’s stock worth $355,000 after purchasing an additional 4,156 shares during the last quarter. Blue Trust Inc. raised its position in shares of Glacier Bancorp by 20,598.6% in the 2nd quarter. Blue Trust Inc. now owns 14,903 shares of the bank’s stock worth $600,000 after buying an additional 14,831 shares during the period. Revolve Wealth Partners LLC acquired a new position in Glacier Bancorp in the second quarter valued at $370,000. Nisa Investment Advisors LLC grew its position in Glacier Bancorp by 230.3% during the second quarter. Nisa Investment Advisors LLC now owns 7,630 shares of the bank’s stock valued at $285,000 after acquiring an additional 5,320 shares during the period. Finally, &PARTNERS increased its stake in Glacier Bancorp by 134.1% during the second quarter. &PARTNERS now owns 57,563 shares of the bank’s stock worth $2,148,000 after acquiring an additional 32,969 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Up 0.8 %

NASDAQ GBCI opened at $56.10 on Thursday. The stock has a market cap of $6.36 billion, a P/E ratio of 34.63 and a beta of 0.79. The company’s fifty day simple moving average is $52.68 and its 200-day simple moving average is $45.29. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp, Inc. has a 52 week low of $34.35 and a 52 week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The company had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same period last year, the firm earned $0.47 earnings per share. Equities research analysts predict that Glacier Bancorp, Inc. will post 1.7 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm 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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 81.48%.

Analyst Ratings Changes

Several research firms have recently weighed in on GBCI. Keefe, Bruyette & Woods lifted their price objective on Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Truist Financial boosted their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Raymond James increased their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler lifted their target price on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.83.

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.