Venturi Wealth Management LLC Acquires 927 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Venturi Wealth Management LLC raised its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 44.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,995 shares of the bank’s stock after acquiring an additional 927 shares during the quarter. Venturi Wealth Management LLC’s holdings in Glacier Bancorp were worth $137,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Glacier Bancorp in the 1st quarter worth $25,000. International Assets Investment Management LLC bought a new position in Glacier Bancorp during the second quarter worth about $25,000. Headlands Technologies LLC acquired a new position in shares of Glacier Bancorp during the 1st quarter worth about $50,000. GAMMA Investing LLC increased its stake in shares of Glacier Bancorp by 96.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after acquiring an additional 772 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Glacier Bancorp in the 2nd quarter valued at approximately $207,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GBCI. Truist Financial boosted their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th. Raymond James upped their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.20.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $56.98 on Thursday. The firm’s 50 day moving average price is $47.67 and its two-hundred day moving average price is $42.63. 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, Inc. has a twelve month low of $32.00 and a twelve month high of $59.19. The firm has a market cap of $6.46 billion, a P/E ratio of 35.17 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI) last announced its 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 firm 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 earned $0.47 EPS. On average, analysts forecast that Glacier Bancorp, Inc. will post 1.67 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, October 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.32%. Glacier Bancorp’s payout ratio is presently 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.