Charles Schwab Investment Management Inc. Trims Stock Holdings in Glacier Bancorp, Inc. $GBCI

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Glacier Bancorp by 2.2%, owning approximately 1.39% of the bank with a value of $69.7 million after selling 36,198 shares.
• Glacier Bancorp's earnings per share (EPS) for the last quarter was reported at $0.45, missing analysts' expectations of $0.49, while they have declared a quarterly dividend of $0.33, reflecting an annualized yield of 2.9%.
• Analysts maintain a moderate buy rating on Glacier Bancorp, with a consensus price target of $50.00, with firms such as Raymond James increasing their target price to $48.00.

Charles Schwab Investment Management Inc. cut its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,576,404 shares of the bank's stock after selling 36,198 shares during the period. Charles Schwab Investment Management Inc. owned about 1.39% of Glacier Bancorp worth $69,709,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital International Investors grew its position in shares of Glacier Bancorp by 5.8% during the fourth quarter. Capital International Investors now owns 2,092,571 shares of the bank's stock worth $105,089,000 after purchasing an additional 115,620 shares in the last quarter. Northern Trust Corp lifted its holdings in Glacier Bancorp by 7.7% in the 4th quarter. Northern Trust Corp now owns 1,763,983 shares of the bank's stock worth $88,587,000 after purchasing an additional 126,316 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Glacier Bancorp by 9.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,361,329 shares of the bank's stock worth $60,198,000 after purchasing an additional 113,544 shares during the period. Snyder Capital Management L P grew its holdings in Glacier Bancorp by 3.4% during the 4th quarter. Snyder Capital Management L P now owns 1,123,980 shares of the bank's stock valued at $56,446,000 after buying an additional 37,472 shares in the last quarter. Finally, Madison Asset Management LLC raised its position in shares of Glacier Bancorp by 9.5% during the first quarter. Madison Asset Management LLC now owns 1,041,736 shares of the bank's stock valued at $46,066,000 after buying an additional 90,512 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Trading Up 0.3%

NASDAQ GBCI traded up $0.14 during trading hours on Tuesday, hitting $46.58. 115,811 shares of the company were exchanged, compared to its average volume of 700,142. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $60.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $44.36 and a 200 day moving average price of $44.04. The stock has a market cap of $5.52 billion, a PE ratio of 27.88 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.04). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same period in the previous year, the firm posted $0.39 earnings per share. Analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.8%. Glacier Bancorp's payout ratio is 68.75%.

Insiders Place Their Bets

In other news, insider Lee Kenneth Groom sold 800 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $44.24, for a total value of $35,392.00. Following the completion of the sale, the insider owned 11,918 shares in the company, valued at approximately $527,252.32. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GBCI has been the topic of several research analyst reports. DA Davidson reissued a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday, June 25th. Keefe, Bruyette & Woods boosted their price target on shares of Glacier Bancorp from $50.00 to $52.00 and gave the stock a "market perform" rating in a research note on Friday, June 27th. Piper Sandler increased their price objective on shares of Glacier Bancorp from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price on the stock in a report on Thursday, June 5th. Finally, Raymond James Financial reissued an "outperform" rating and set a $48.00 price target (up from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

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.