American International Group Inc. Lowers Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

American International Group Inc. decreased its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,347 shares of the bank’s stock after selling 6,641 shares during the quarter. American International Group Inc. owned about 0.18% of Glacier Bancorp worth $8,444,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Glacier Bancorp by 0.5% in the third quarter. Vanguard Group Inc. now owns 12,269,992 shares of the bank’s stock worth $349,695,000 after purchasing an additional 67,091 shares during the last quarter. Cooke & Bieler LP raised its stake in shares of Glacier Bancorp by 34.0% in the fourth quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock worth $133,847,000 after purchasing an additional 821,199 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Glacier Bancorp by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,970 shares of the bank’s stock worth $95,661,000 after purchasing an additional 96,347 shares during the last quarter. Capital International Investors raised its stake in shares of Glacier Bancorp by 45.1% in the fourth quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after purchasing an additional 566,513 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Glacier Bancorp by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,478,811 shares of the bank’s stock worth $61,104,000 after purchasing an additional 65,372 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GBCI. Stephens cut their price objective on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. Truist Financial cut their price objective on 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 cut their price objective on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.40.

Glacier Bancorp Stock Performance

NASDAQ:GBCI opened at $36.09 on Thursday. The stock has a 50-day simple moving average of $37.12 and a two-hundred day simple moving average of $38.41. Glacier Bancorp, Inc. has a 52-week low of $26.83 and a 52-week high of $44.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market capitalization of $4.09 billion, a PE ratio of 20.62 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. Analysts forecast that Glacier Bancorp, Inc. will post 1.64 EPS for the current year.

Glacier Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were paid a $0.33 dividend. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.66%. Glacier Bancorp’s dividend payout ratio is 75.43%.

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.