Axxcess Wealth Management LLC Purchases New Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Axxcess Wealth Management LLC acquired a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 11,942 shares of the bank’s stock, valued at approximately $493,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of Glacier Bancorp by 409.4% during the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after purchasing an additional 479 shares during the period. GAMMA Investing LLC purchased a new position in Glacier Bancorp during the 4th quarter worth $25,000. FNY Investment Advisers LLC acquired a new stake in shares of Glacier Bancorp in the 4th quarter worth $28,000. Selway Asset Management purchased a new stake in shares of Glacier Bancorp in the third quarter valued at about $47,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Glacier Bancorp by 14.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock worth $93,000 after acquiring an additional 413 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $38.16 on Wednesday. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 21.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79. The business’s 50 day simple moving average is $37.97 and its 200-day simple moving average is $37.31. Glacier Bancorp, Inc. has a 12 month low of $26.77 and a 12 month high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 earnings per share (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 return on equity of 6.51% and a net margin of 16.40%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. As a group, equities analysts forecast that Glacier Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were given a $0.33 dividend. 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. This represents a $1.32 annualized dividend and a dividend yield of 3.46%. Glacier Bancorp’s payout ratio is currently 75.43%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GBCI. Stephens reduced their price objective on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. DA Davidson reduced their price target on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Truist Financial dropped their price objective on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Finally, StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Company 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.