Raymond James & Associates Trims Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Raymond James & Associates cut its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 13.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,481 shares of the bank’s stock after selling 20,288 shares during the period. Raymond James & Associates owned about 0.12% of Glacier Bancorp worth $6,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GBCI. Dimensional Fund Advisors LP boosted its holdings in shares of Glacier Bancorp by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,611,345 shares of the bank’s stock valued at $97,450,000 after purchasing an additional 103,374 shares during the last quarter. Capital Research Global Investors boosted its stake in Glacier Bancorp by 60.3% during the first quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock valued at $77,539,000 after buying an additional 724,089 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Glacier Bancorp by 10.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,528,273 shares of the bank’s stock valued at $57,035,000 after buying an additional 149,404 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Glacier Bancorp by 2.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,414,154 shares of the bank’s stock worth $52,776,000 after acquiring an additional 40,120 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Glacier Bancorp by 9.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,125,955 shares of the bank’s stock worth $42,021,000 after acquiring an additional 99,811 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 2.2 %

Glacier Bancorp stock opened at $52.16 on Friday. Glacier Bancorp, Inc. has a one year low of $29.35 and a one year high of $53.93. The stock has a market cap of $5.91 billion, a PE ratio of 32.20 and a beta of 0.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day moving average of $46.36 and a two-hundred day moving average of $41.52.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The company had revenue of $324.28 million during the quarter, compared to analysts’ expectations of $212.57 million. During the same period last year, the business earned $0.47 EPS. On average, research analysts anticipate that Glacier Bancorp, Inc. will post 1.63 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, October 8th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Tuesday, October 8th. Glacier Bancorp’s payout ratio is 81.48%.

Wall Street Analysts Forecast Growth

GBCI has been the subject of a number of analyst reports. Truist Financial lifted their price target on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday. Raymond James lifted their target price on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler increased their price target on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.20.

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.