Citigroup Inc. Has $6.75 Million Position in Glacier Bancorp, Inc. $GBCI

Key Points

• Citigroup Inc. has reduced its holdings in Glacier Bancorp by 11.8% during the first quarter, now owning 152,726 shares valued at approximately $6.75 million.
• Multiple analysts have recently upgraded their ratings on Glacier Bancorp, with target prices ranging from $48.00 to $52.00, reflecting optimism about the company's performance.
• Glacier Bancorp's stock is currently trading at $45.32, with a dividend yield of 2.9% and a recent quarterly earnings report showing earnings per share of $0.45, below analysts' estimates.

Citigroup Inc. lessened its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,726 shares of the bank's stock after selling 20,338 shares during the period. Citigroup Inc. owned about 0.13% of Glacier Bancorp worth $6,754,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wood Tarver Financial Group LLC bought a new stake in shares of Glacier Bancorp in the fourth quarter valued at about $33,000. JNBA Financial Advisors bought a new stake in shares of Glacier Bancorp in the first quarter valued at about $35,000. UMB Bank n.a. lifted its stake in shares of Glacier Bancorp by 114.9% in the first quarter. UMB Bank n.a. now owns 838 shares of the bank's stock valued at $37,000 after buying an additional 448 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Glacier Bancorp by 252.1% in the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank's stock valued at $62,000 after buying an additional 1,001 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Glacier Bancorp in the fourth quarter valued at about $146,000. Institutional investors own 80.17% of the company's stock.

Wall Street Analyst Weigh In

GBCI has been the subject of several research reports. Raymond James Financial reiterated an "outperform" rating and issued a $48.00 target price (up previously from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Keefe, Bruyette & Woods increased 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 report on Friday, June 27th. Janney Montgomery Scott raised shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target for the company in a research report on Thursday, June 5th. Piper Sandler increased their price target on shares of Glacier Bancorp from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, DA Davidson reissued a "buy" rating and issued a $50.00 price target on shares of Glacier Bancorp in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.00.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI traded up $2.2750 during mid-day trading on Friday, hitting $47.7450. 232,692 shares of the stock were exchanged, compared to its average volume of 703,228. The company has a market cap of $5.66 billion, a P/E ratio of 28.54 and a beta of 0.79. The stock's fifty day simple moving average is $44.53 and its two-hundred day simple moving average is $44.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp, Inc. has a twelve month low of $36.76 and a twelve month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.45 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the business posted $0.39 EPS. As a group, analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

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

Insider Buying and Selling at Glacier Bancorp

In other news, insider Lee Kenneth Groom sold 800 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $44.24, for a total transaction of $35,392.00. Following the completion of the sale, the insider owned 11,918 shares of the company's stock, valued at approximately $527,252.32. This trade represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company's stock.

About Glacier Bancorp

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.