Goldman Sachs Group Inc. Decreases Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Goldman Sachs Group Inc. decreased its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 28.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,075,715 shares of the bank’s stock after selling 431,464 shares during the period. Goldman Sachs Group Inc. owned 0.95% of Glacier Bancorp worth $44,449,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently 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 acquiring an additional 479 shares during the last quarter. GAMMA Investing LLC acquired a new position in Glacier Bancorp during the 4th quarter valued at approximately $25,000. FNY Investment Advisers LLC acquired a new position in Glacier Bancorp during the 4th quarter valued at approximately $28,000. Signaturefd LLC increased its stake in Glacier Bancorp by 51.9% during the 4th quarter. Signaturefd LLC now owns 3,727 shares of the bank’s stock valued at $154,000 after purchasing an additional 1,274 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its stake in Glacier Bancorp by 66,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,972 shares of the bank’s stock valued at $164,000 after purchasing an additional 3,966 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GBCI shares. DA Davidson cut their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. 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 research note on Monday, April 22nd. 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 research note on Tuesday, April 23rd. Finally, StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Stock Down 1.9 %

NASDAQ:GBCI opened at $35.39 on Friday. The firm has a market capitalization of $4.01 billion, a P/E ratio of 20.22 and a beta of 0.80. Glacier Bancorp, Inc. has a 1-year low of $26.83 and a 1-year high of $44.06. The company’s fifty day moving average price is $37.10 and its 200-day moving average price is $38.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79.

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

Glacier Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.73%. 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. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

About Glacier Bancorp

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.