International Assets Investment Management LLC Acquires New Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

International Assets Investment Management LLC purchased a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 28,676 shares of the bank's stock, valued at approximately $1,185,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Citizens Bank & Trust Co. bought a new stake in shares of Glacier Bancorp during the fourth quarter valued at approximately $213,000. Pacer Advisors Inc. increased its holdings in Glacier Bancorp by 79.9% during the fourth quarter. Pacer Advisors Inc. now owns 16,660 shares of the bank's stock valued at $688,000 after buying an additional 7,397 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Glacier Bancorp by 26.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 72,328 shares of the bank's stock valued at $2,989,000 after buying an additional 15,320 shares during the period. Raymond James & Associates increased its holdings in Glacier Bancorp by 1.3% during the fourth quarter. Raymond James & Associates now owns 1,004,414 shares of the bank's stock valued at $41,502,000 after buying an additional 13,341 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in Glacier Bancorp during the fourth quarter valued at approximately $28,000. Institutional investors own 80.17% of the company's stock.

Analyst Ratings Changes

GBCI has been the topic of several research reports. Raymond James lifted their price objective on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, January 5th. StockNews.com raised shares of Glacier Bancorp to a "sell" rating in a report on Tuesday, March 19th. Stephens cut their price objective on shares of Glacier Bancorp from $44.00 to $40.00 and set an "equal weight" rating on the stock in a report on Tuesday. DA Davidson cut their price objective on shares of Glacier Bancorp from $48.00 to $45.00 and set a "buy" rating on the stock in a report on Monday. Finally, Truist Financial cut their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a "hold" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $40.40.

Glacier Bancorp Stock Performance

Shares of GBCI traded up $0.69 during trading hours on Tuesday, reaching $38.38. 574,149 shares of the company traded hands, compared to its average volume of 764,438. The stock has a market capitalization of $4.35 billion, a P/E ratio of 21.93 and a beta of 0.80. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. Glacier Bancorp, Inc. has a 12-month low of $26.77 and a 12-month high of $44.06. The business has a fifty day moving average price of $37.86 and a 200-day moving average price of $36.82.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.04). The company had revenue of $196.47 million for the quarter, compared to analysts' expectations of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. Glacier Bancorp's quarterly revenue was down 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.55 earnings per share. Equities analysts anticipate that Glacier Bancorp, Inc. will post 1.82 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, April 8th. This is a positive change from Glacier Bancorp's previous quarterly dividend of $0.10. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.44%. Glacier Bancorp's payout ratio is 75.43%.

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.