Cercano Management LLC bought a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 317,338 shares of the bank's stock, valued at approximately $13,112,000. Cercano Management LLC owned about 0.29% of Glacier Bancorp at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Allworth Financial LP lifted its position in Glacier Bancorp by 409.4% during the fourth quarter. Allworth Financial LP now owns 596 shares of the bank's stock valued at $25,000 after purchasing an additional 479 shares during the last quarter. GAMMA Investing LLC bought a new stake in Glacier Bancorp during the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC bought a new stake in Glacier Bancorp during the fourth quarter valued at approximately $28,000. Selway Asset Management bought a new stake in Glacier Bancorp during the third quarter valued at approximately $47,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Glacier Bancorp by 14.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank's stock valued at $93,000 after purchasing an additional 413 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.
Glacier Bancorp Trading Down 0.7 %
Shares of NASDAQ GBCI traded down $0.28 during mid-day trading on Friday, hitting $37.12. The stock had a trading volume of 373,490 shares, compared to its average volume of 626,117. The business has a 50 day moving average price of $37.88 and a two-hundred day moving average price of $36.97. The firm has a market cap of $4.21 billion, a P/E ratio of 21.21 and a beta of 0.80. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. Glacier Bancorp, Inc. has a 1 year low of $26.77 and a 1 year high of $44.06.
Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm had revenue of $196.47 million for the quarter, compared to analysts' expectations of $202.66 million. During the same period last year, the company posted $0.55 earnings per share. The business's revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities analysts anticipate that Glacier Bancorp, Inc. will post 1.68 EPS for the current fiscal year.
Glacier Bancorp Increases Dividend
The business also recently declared 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Monday, April 8th. This is an increase from Glacier Bancorp's previous quarterly dividend of $0.10. Glacier Bancorp's dividend payout ratio (DPR) is presently 75.43%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. Raymond James boosted their price objective on shares of Glacier Bancorp from $36.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, January 5th. Truist Financial lowered their price objective on shares of Glacier Bancorp from $42.00 to $40.00 and set a "hold" rating for the company in a report on Monday, April 22nd. DA Davidson lowered their price objective on shares of Glacier Bancorp from $48.00 to $45.00 and set a "buy" rating for the company in a report on Monday, April 22nd. StockNews.com upgraded shares of Glacier Bancorp to a "sell" rating in a report on Tuesday, March 19th. Finally, Stephens lowered their price objective on shares of Glacier Bancorp from $44.00 to $40.00 and set an "equal weight" rating for the company in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $40.40.
Get Our Latest Stock Analysis on GBCI
About Glacier Bancorp
(
Free Report)
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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