Glacier Bancorp, Inc. $GBCI Shares Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC boosted its Glacier Bancorp stake by 881.8% in the fourth quarter, ending with 43,453 shares valued at about $1.9 million.
• Several other institutional investors also increased positions, and 80.17% of Glacier Bancorp shares are owned by institutions and hedge funds.
• The bank beat quarterly earnings expectations with $0.70 EPS versus the $0.67 estimate and also announced a quarterly dividend of $0.33 per share, implying a 2.6% yield.

Hsbc Holdings PLC grew its holdings in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 881.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,453 shares of the company's stock after buying an additional 39,027 shares during the period. Hsbc Holdings PLC's holdings in Glacier Bancorp were worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in Glacier Bancorp by 30.9% in the first quarter. AQR Capital Management LLC now owns 31,176 shares of the company's stock valued at $1,358,000 after purchasing an additional 7,359 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Glacier Bancorp by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the company's stock worth $59,799,000 after purchasing an additional 73,756 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Glacier Bancorp by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the company's stock worth $15,587,000 after purchasing an additional 26,157 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company's stock worth $31,000 after buying an additional 490 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Glacier Bancorp during the 2nd quarter worth approximately $2,011,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GBCI has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Glacier Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, April 22nd. DA Davidson boosted their price target on shares of Glacier Bancorp from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Stephens upped their price objective on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Finally, Piper Sandler raised their price objective on Glacier Bancorp from $59.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $55.17.

Glacier Bancorp Stock Performance

GBCI stock traded up $0.10 on Friday, hitting $51.43. The company's stock had a trading volume of 909,229 shares, compared to its average volume of 1,276,245. The firm has a 50 day moving average of $48.82 and a two-hundred day moving average of $47.83. Glacier Bancorp, Inc. has a 1 year low of $39.90 and a 1 year high of $53.99. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 24.03 and a beta of 0.72. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. The company had revenue of $309.61 million for the quarter. During the same period in the previous year, the business posted $0.48 earnings per share. Equities analysts predict that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $1.32 annualized dividend and a yield of 2.6%. Glacier Bancorp's dividend payout ratio is currently 61.68%.

Glacier Bancorp Company Profile

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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