BNP Paribas Financial Markets Reduces Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

BNP Paribas Financial Markets cut its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 51.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,388 shares of the bank's stock after selling 23,815 shares during the period. BNP Paribas Financial Markets' holdings in Glacier Bancorp were worth $1,124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in shares of Glacier Bancorp by 57.8% during the fourth quarter. Ameriprise Financial Inc. now owns 287,123 shares of the bank's stock worth $14,419,000 after buying an additional 105,153 shares during the period. Gallagher Fiduciary Advisors LLC increased its stake in shares of Glacier Bancorp by 19.0% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 10,955 shares of the bank's stock worth $550,000 after buying an additional 1,749 shares during the period. Freestone Grove Partners LP purchased a new stake in shares of Glacier Bancorp during the fourth quarter worth approximately $6,305,000. Northern Trust Corp increased its stake in shares of Glacier Bancorp by 7.7% during the fourth quarter. Northern Trust Corp now owns 1,763,983 shares of the bank's stock worth $88,587,000 after buying an additional 126,316 shares during the period. Finally, Piedmont Capital Management LLC increased its stake in shares of Glacier Bancorp by 4.5% during the fourth quarter. Piedmont Capital Management LLC now owns 5,256 shares of the bank's stock worth $262,000 after buying an additional 224 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GBCI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price target on Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Raymond James set a $45.00 price target on Glacier Bancorp in a report on Monday, April 28th. Piper Sandler lowered their price target on Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Finally, Stephens raised Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $50.50.

Glacier Bancorp Stock Performance

Shares of GBCI stock traded down $0.45 during trading hours on Monday, hitting $40.70. The stock had a trading volume of 356,913 shares, compared to its average volume of 634,489. The firm has a market capitalization of $4.62 billion, a PE ratio of 24.37 and a beta of 0.79. Glacier Bancorp, Inc. has a twelve month low of $34.48 and a twelve month high of $60.67. The stock's 50 day moving average is $41.64 and its 200 day moving average is $47.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same period in the prior year, the company earned $0.29 earnings per share. As a group, research analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Tuesday, April 8th. Glacier Bancorp's payout ratio is currently 70.97%.

Glacier Bancorp Company 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.