Millennium Management LLC Purchases 916,163 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Millennium Management LLC increased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 4,600.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 936,079 shares of the bank's stock after buying an additional 916,163 shares during the quarter. Millennium Management LLC owned 0.83% of Glacier Bancorp worth $47,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Mather Group LLC. grew its holdings in Glacier Bancorp by 97.6% during the 4th quarter. Mather Group LLC. now owns 733 shares of the bank's stock worth $37,000 after acquiring an additional 362 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new position in shares of Glacier Bancorp during the fourth quarter worth $63,000. Bridge Generations Wealth Management LLC bought a new stake in shares of Glacier Bancorp in the fourth quarter worth $70,000. Smartleaf Asset Management LLC increased its holdings in Glacier Bancorp by 17.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank's stock valued at $144,000 after purchasing an additional 431 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Glacier Bancorp in the fourth quarter valued at $146,000. Institutional investors own 80.17% of the company's stock.

Glacier Bancorp Trading Up 0.1%

Shares of NASDAQ:GBCI traded up $0.04 during midday trading on Thursday, reaching $40.89. The company's stock had a trading volume of 62,175 shares, compared to its average volume of 629,568. Glacier Bancorp, Inc. has a fifty-two week low of $34.48 and a fifty-two week high of $60.67. 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 firm has a 50 day moving average price of $41.89 and a two-hundred day moving average price of $48.29. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 24.46 and a beta of 0.79.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the firm earned $0.29 EPS. As a group, analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Tuesday, April 8th. Glacier Bancorp's dividend payout ratio is presently 70.97%.

Wall Street Analyst Weigh In

A number of research firms have commented on GBCI. Raymond James set a $45.00 price target on Glacier Bancorp in a research report on Monday, April 28th. Stephens raised Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods reduced their target price on Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Finally, Piper Sandler lowered their price target on shares of Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating for the company in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $50.50.

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.