Principal Financial Group Inc. Has $12.03 Million Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Principal Financial Group Inc. cut its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 30.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 263,199 shares of the bank’s stock after selling 117,123 shares during the period. Principal Financial Group Inc. owned 0.23% of Glacier Bancorp worth $12,028,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GBCI. Barclays PLC lifted its holdings in Glacier Bancorp by 65.6% during the 3rd quarter. Barclays PLC now owns 247,717 shares of the bank’s stock worth $11,321,000 after purchasing an additional 98,158 shares during the last quarter. Geode Capital Management LLC grew its holdings in Glacier Bancorp by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock valued at $132,662,000 after buying an additional 41,160 shares in the last quarter. LMR Partners LLP bought a new position in Glacier Bancorp during the 3rd quarter worth $543,000. BNP Paribas Financial Markets lifted its holdings in shares of Glacier Bancorp by 75.1% during the third quarter. BNP Paribas Financial Markets now owns 46,203 shares of the bank’s stock worth $2,111,000 after buying an additional 19,814 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of Glacier Bancorp by 30.9% in the third quarter. Natixis Advisors LLC now owns 331,121 shares of the bank’s stock valued at $15,132,000 after acquiring an additional 78,107 shares during the period. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $50.29 on Monday. The company has a 50 day moving average of $54.16 and a 200-day moving average of $46.73. The company has a market cap of $5.70 billion, a PE ratio of 31.04 and a beta of 0.79. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp, Inc. has a 1-year low of $34.35 and a 1-year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The firm had revenue of $324.28 million during the quarter, compared to analysts’ expectations of $212.57 million. During the same period in the prior year, the company earned $0.47 earnings per share. As a group, equities research analysts forecast that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio is presently 81.48%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GBCI shares. Keefe, Bruyette & Woods raised their price target on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James raised their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Truist Financial boosted their price target on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Finally, Piper Sandler raised their price objective on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Glacier Bancorp presently has a consensus rating of “Hold” and an average target price of $48.83.

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.