Oak Ridge Investments LLC Sells 21,973 Shares of Glacier Bancorp, Inc. $GBCI

Key Points

• Oak Ridge Investments cut its Glacier Bancorp stake by 38.2%, selling 21,973 shares and leaving it with 35,482 shares valued at about $1.56 million at quarter-end.
• Glacier Bancorp reported quarterly EPS of $0.49, missing the $0.62 analyst estimate, and announced a quarterly dividend of $0.33 (annualized $1.32, ~2.7% yield; ex-dividend April 7, payable April 16).
• Analysts hold a consensus rating of Hold with a mean price target of $55.67, reflecting a split of three Buys, three Holds and one Sell.

Oak Ridge Investments LLC decreased its position in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 38.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,482 shares of the company's stock after selling 21,973 shares during the period. Oak Ridge Investments LLC's holdings in Glacier Bancorp were worth $1,563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GBCI. Davidson Trust Co. bought a new stake in Glacier Bancorp in the third quarter worth $3,478,000. CENTRAL TRUST Co bought a new stake in Glacier Bancorp in the third quarter worth $594,000. Capital International Investors increased its position in Glacier Bancorp by 17.1% in the third quarter. Capital International Investors now owns 1,742,780 shares of the company's stock worth $84,821,000 after purchasing an additional 254,514 shares during the last quarter. TrueMark Investments LLC bought a new stake in Glacier Bancorp in the third quarter worth $3,229,000. Finally, Natixis Advisors LLC increased its position in Glacier Bancorp by 15.0% in the third quarter. Natixis Advisors LLC now owns 562,404 shares of the company's stock worth $27,372,000 after purchasing an additional 73,545 shares during the last quarter. Institutional investors own 80.17% of the company's stock.

Analysts Set New Price Targets

GBCI has been the topic of several research reports. Piper Sandler set a $59.00 price target on shares of Glacier Bancorp and gave the stock an "overweight" rating in a research report on Wednesday, February 11th. Brean Capital cut shares of Glacier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 10th. Wall Street Zen upgraded shares of Glacier Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings restated a "hold (c)" rating on shares of Glacier Bancorp in a research report on Monday, December 29th. Finally, Janney Montgomery Scott began coverage on shares of Glacier Bancorp in a research report on Tuesday, February 10th. They issued a "neutral" rating and a $55.00 price target on the stock. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $55.67.

Glacier Bancorp Stock Performance

GBCI stock opened at $48.65 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.82. The business has a 50-day moving average price of $47.07 and a 200 day moving average price of $45.74. The company has a market capitalization of $6.33 billion, a P/E ratio of 24.45 and a beta of 0.73. Glacier Bancorp, Inc. has a 1-year low of $37.50 and a 1-year high of $53.99.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its earnings results on Thursday, January 22nd. The company reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.13). Glacier Bancorp had a return on equity of 6.68% and a net margin of 16.63%.During the same quarter in the prior year, the company earned $0.54 earnings per share.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Tuesday, April 7th will be given a $0.33 dividend. The ex-dividend date is Tuesday, April 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. Glacier Bancorp's dividend payout ratio is currently 66.33%.

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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