Glacier Bancorp, Inc. (NASDAQ:GBCI) Position Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 21.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 318,956 shares of the bank’s stock after selling 84,535 shares during the period. JPMorgan Chase & Co. owned 0.28% of Glacier Bancorp worth $14,576,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Thrivent Financial for Lutherans raised its stake in Glacier Bancorp by 19.8% during the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock worth $77,435,000 after acquiring an additional 280,255 shares during the period. Millennium Management LLC raised its position in shares of Glacier Bancorp by 131.9% during the 2nd quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock worth $17,807,000 after purchasing an additional 271,398 shares during the period. Sei Investments Co. lifted its holdings in shares of Glacier Bancorp by 123.9% in the 2nd quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock worth $12,393,000 after purchasing an additional 183,757 shares during the last quarter. Pier Capital LLC bought a new stake in shares of Glacier Bancorp in the 3rd quarter worth approximately $7,443,000. Finally, Clifford Capital Partners LLC boosted its position in Glacier Bancorp by 40.9% during the 2nd quarter. Clifford Capital Partners LLC now owns 422,951 shares of the bank’s stock valued at $15,785,000 after purchasing an additional 122,842 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Stock Performance

GBCI stock opened at $47.79 on Friday. The company has a 50-day simple moving average of $54.11 and a 200 day simple moving average of $47.54. The company has a market capitalization of $5.42 billion, a P/E ratio of 29.50 and a beta of 0.81. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp, Inc. has a fifty-two week low of $34.35 and a fifty-two week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The company had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. During the same period in the prior year, the business posted $0.47 EPS. Sell-side analysts predict that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Tuesday, December 10th. Glacier Bancorp’s payout ratio is currently 81.48%.

Analyst Ratings Changes

Several brokerages have weighed in on GBCI. Raymond James increased their target price on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Truist Financial lifted their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Piper Sandler upped their target price on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One investment 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. Based on data from MarketBeat.com, the company presently has an average 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.