Arkadios Wealth Advisors Sells 73,005 Shares of Glacier Bancorp, Inc. $GBCI

Key Points

• Arkadios Wealth Advisors cut its Glacier Bancorp stake by 51.3% in the first quarter, selling 73,005 shares and retaining 69,178 shares valued at approximately $3.09 million.
• Other institutional investors largely increased exposure, including Vanguard and State Street, while institutional ownership reached 80.17% of Glacier Bancorp’s outstanding shares.
• Glacier Bancorp matched quarterly earnings expectations at $0.76 per share and reported $320.94 million in revenue. The company maintains a $0.33 quarterly dividend, equivalent to a 2.7% yield, while analysts’ average rating is “Hold” with a $55.17 price target.

Arkadios Wealth Advisors decreased its holdings in Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 51.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,178 shares of the company's stock after selling 73,005 shares during the period. Arkadios Wealth Advisors owned 0.05% of Glacier Bancorp worth $3,090,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Glacier Bancorp in the fourth quarter worth $67,582,000. Vanguard Group Inc. boosted its stake in Glacier Bancorp by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company's stock worth $588,471,000 after purchasing an additional 870,335 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Glacier Bancorp in the 1st quarter worth about $33,197,000. Balyasny Asset Management L.P. purchased a new position in Glacier Bancorp during the 2nd quarter valued at about $24,362,000. Finally, State Street Corp increased its position in shares of Glacier Bancorp by 9.9% during the fourth quarter. State Street Corp now owns 6,178,363 shares of the company's stock valued at $272,157,000 after buying an additional 557,873 shares during the period. Institutional investors own 80.17% of the company's stock.

Glacier Bancorp Stock Up 0.5%

Shares of NYSE GBCI opened at $49.22 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of $49.87 and a 200-day moving average of $48.41. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 20.17 and a beta of 0.72. Glacier Bancorp, Inc. has a 12 month low of $39.90 and a 12 month high of $54.58.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. The company had revenue of $320.94 million during the quarter. During the same quarter last year, the firm posted $0.57 earnings per share. Sell-side analysts expect that Glacier Bancorp, Inc. will post 3.15 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were given a $0.33 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. Glacier Bancorp's payout ratio is presently 54.10%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GBCI. Weiss Ratings restated a "hold (c+)" rating on shares of Glacier Bancorp in a research report on Monday, July 20th. Piper Sandler upped their target price on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Stephens increased their target price on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Finally, DA Davidson reissued a "buy" rating and issued a $58.00 price target on shares of Glacier Bancorp in a report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $55.17.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.

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