Heartland Advisors Inc. Has $20.95 Million Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Key Points

• Heartland Advisors Inc. reduced its stake in Glacier Bancorp, Inc. by 16.3% during the first quarter, now holding 473,669 shares valued at approximately $20.95 million, making it the 11th largest holding in their portfolio.
• Various hedge funds are actively trading Glacier Bancorp's stock, with notable increases from firms like Royce & Associates LP and Madison Asset Management LLC during the same period.
• Glacier Bancorp recently reported earnings per share of $0.45, falling short of analysts' expectations, and declared a quarterly dividend of $0.33 per share, offering an annualized yield of 2.96%.

Heartland Advisors Inc. cut its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 16.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 473,669 shares of the bank's stock after selling 92,087 shares during the quarter. Glacier Bancorp makes up 1.2% of Heartland Advisors Inc.'s portfolio, making the stock its 11th biggest holding. Heartland Advisors Inc. owned 0.42% of Glacier Bancorp worth $20,946,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Equitable Trust Co. increased its position in Glacier Bancorp by 15.1% during the first quarter. Equitable Trust Co. now owns 8,146 shares of the bank's stock worth $360,000 after buying an additional 1,067 shares during the last quarter. Drive Wealth Management LLC acquired a new position in Glacier Bancorp during the first quarter worth $668,000. Royce & Associates LP increased its position in Glacier Bancorp by 25.5% during the first quarter. Royce & Associates LP now owns 304,924 shares of the bank's stock worth $13,484,000 after buying an additional 61,900 shares during the last quarter. Madison Asset Management LLC grew its position in shares of Glacier Bancorp by 9.5% in the first quarter. Madison Asset Management LLC now owns 1,041,736 shares of the bank's stock valued at $46,066,000 after purchasing an additional 90,512 shares during the last quarter. Finally, Homestead Advisers Corp grew its position in shares of Glacier Bancorp by 15.2% in the first quarter. Homestead Advisers Corp now owns 119,916 shares of the bank's stock valued at $5,303,000 after purchasing an additional 15,800 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GBCI. DA Davidson reaffirmed a "buy" rating and issued a $50.00 price target on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Keefe, Bruyette & Woods lifted their target price on Glacier Bancorp from $50.00 to $52.00 and gave the stock a "market perform" rating in a research report on Friday, June 27th. Raymond James Financial reissued an "outperform" rating and set a $48.00 target price (up from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Finally, 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 research 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $50.83.

Glacier Bancorp Stock Down 2.8%

GBCI stock opened at $44.58 on Friday. Glacier Bancorp, Inc. has a twelve month low of $36.76 and a twelve month high of $60.67. The company has a market cap of $5.06 billion, a PE ratio of 26.70 and a beta of 0.77. The business's 50-day simple moving average is $43.27 and its 200 day simple moving average is $44.73. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share 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 last year, the company earned $0.39 EPS. On average, research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were paid a dividend of $0.33 per share. 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 is 70.97%.

Glacier Bancorp 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.

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