Capital Research Global Investors Sells 122,937 Shares of Glacier Bancorp, Inc. $GBCI

Key Points

• Capital Research Global Investors sold 122,937 shares of Glacier Bancorp in Q3, trimming its position to 6,126,400 shares (a 4.71% stake) valued at about $298.17 million.
• Other large institutions increased holdings (e.g., Capital International Investors +17.1%, Russell Investments +47.3%), and overall institutional ownership of the stock is 80.17%.
• Analysts have a consensus Hold rating with an average price target of $55.67, while the stock trades near $44.64 and the company recently missed quarterly EPS estimates ($0.49 vs. $0.62).

Capital Research Global Investors decreased its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,126,400 shares of the bank's stock after selling 122,937 shares during the quarter. Capital Research Global Investors owned 4.71% of Glacier Bancorp worth $298,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Capital International Investors lifted its position in Glacier Bancorp by 17.1% during the third quarter. Capital International Investors now owns 1,742,780 shares of the bank's stock valued at $84,821,000 after purchasing an additional 254,514 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Glacier Bancorp by 6.1% in the third quarter. Swiss National Bank now owns 229,821 shares of the bank's stock worth $11,185,000 after buying an additional 13,200 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Glacier Bancorp by 47.3% during the third quarter. Russell Investments Group Ltd. now owns 289,062 shares of the bank's stock valued at $14,069,000 after purchasing an additional 92,783 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of Glacier Bancorp during the 3rd quarter worth approximately $215,000. Finally, Natixis Advisors LLC raised its stake in Glacier Bancorp by 15.0% during the third quarter. Natixis Advisors LLC now owns 562,404 shares of the bank's stock valued at $27,372,000 after purchasing an additional 73,545 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Janney Montgomery Scott began coverage on shares of Glacier Bancorp in a report on Tuesday, February 10th. They issued a "neutral" rating and a $55.00 price target for the company. Keefe, Bruyette & Woods restated an "underperform" rating on shares of Glacier Bancorp in a research report on Monday, January 26th. Piper Sandler set a $59.00 price objective on Glacier Bancorp and gave the company an "overweight" rating in a research note on Wednesday, February 11th. DA Davidson boosted their target price on Glacier Bancorp from $55.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, January 26th. Finally, Stephens set a $58.00 price objective on shares of Glacier Bancorp in a research note on Monday, January 26th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $55.67.

Glacier Bancorp Price Performance

Shares of GBCI opened at $44.64 on Wednesday. The business's 50-day moving average is $48.34 and its two-hundred day moving average is $46.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $5.80 billion, a P/E ratio of 26.73 and a beta of 0.75. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $53.99.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.13). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the previous year, the firm earned $0.54 earnings per share. Research analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.

Want to see what other hedge funds are holding GBCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.