Swiss National Bank Trims Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Swiss National Bank lessened its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 221,421 shares of the bank’s stock after selling 1,700 shares during the quarter. Swiss National Bank owned 0.20% of Glacier Bancorp worth $10,119,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co lifted its stake in Glacier Bancorp by 21.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock worth $3,160,000 after purchasing an additional 13,655 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Glacier Bancorp during the 1st quarter worth approximately $477,000. Blue Trust Inc. boosted its holdings in Glacier Bancorp by 20,598.6% during the 2nd quarter. Blue Trust Inc. now owns 14,903 shares of the bank’s stock valued at $600,000 after acquiring an additional 14,831 shares during the period. &PARTNERS grew its position in Glacier Bancorp by 134.1% in the 2nd quarter. &PARTNERS now owns 57,563 shares of the bank’s stock valued at $2,148,000 after acquiring an additional 32,969 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in Glacier Bancorp by 34.6% in the first quarter. Westwood Holdings Group Inc. now owns 485,574 shares of the bank’s stock worth $19,559,000 after purchasing an additional 124,891 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial upped their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. 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 research report on Wednesday, October 2nd. Finally, Piper Sandler lifted their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.20.

Glacier Bancorp Trading Up 2.2 %

NASDAQ GBCI opened at $58.33 on Monday. The company’s 50-day simple moving average is $49.78 and its two-hundred day simple moving average is $43.70. Glacier Bancorp, Inc. has a one year low of $32.00 and a one year high of $59.19. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 36.01 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data 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. The firm had revenue of $324.28 million during the quarter, compared to analysts’ expectations of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same quarter last year, the firm earned $0.47 EPS. Equities analysts forecast that Glacier Bancorp, Inc. will post 1.7 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.26%. Glacier Bancorp’s payout ratio is currently 81.48%.

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.