Babb Wealth Advisors LLC Sells 6,996 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Babb Wealth Advisors LLC trimmed its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,367 shares of the bank's stock after selling 6,996 shares during the period. Glacier Bancorp comprises about 1.5% of Babb Wealth Advisors LLC's holdings, making the stock its 10th biggest holding. Babb Wealth Advisors LLC's holdings in Glacier Bancorp were worth $1,873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. raised its stake in shares of Glacier Bancorp by 9.1% during 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 in the last quarter. CWM LLC raised its stake in shares of Glacier Bancorp by 0.7% during the 1st quarter. CWM LLC now owns 39,635 shares of the bank's stock worth $1,753,000 after purchasing an additional 285 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Glacier Bancorp by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the bank's stock worth $1,406,000 after purchasing an additional 300 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Glacier Bancorp by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 27,136 shares of the bank's stock worth $1,200,000 after purchasing an additional 300 shares in the last quarter. Finally, First Interstate Bank purchased a new stake in shares of Glacier Bancorp during the 1st quarter worth about $593,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GBCI shares. Raymond James Financial reaffirmed 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. DA Davidson reaffirmed a "buy" rating and set a $50.00 price target on shares of Glacier Bancorp in a research note on Wednesday, June 25th. Keefe, Bruyette & Woods raised their price target on Glacier Bancorp from $50.00 to $52.00 and gave the stock a "market perform" rating in a research note on Friday, June 27th. Finally, Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price objective on the stock in a report on Thursday, June 5th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $50.83.

Glacier Bancorp Stock Down 2.8%

Shares of NASDAQ GBCI traded down $1.30 during mid-day trading on Thursday, reaching $44.58. 418,767 shares of the company traded hands, compared to its average volume of 697,862. 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 stock has a market cap of $5.06 billion, a PE ratio of 26.70 and a beta of 0.77. The company's fifty day moving average is $43.24 and its two-hundred day moving average is $44.77. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The bank reported $0.48 EPS for the quarter, beating analysts' consensus estimates 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 quarter last year, the business posted $0.29 EPS. On average, analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp's dividend payout ratio (DPR) 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.