Charles Schwab Investment Management Inc. Has $74.40 Million Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Charles Schwab Investment Management Inc. grew its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,628,055 shares of the bank’s stock after purchasing an additional 49,006 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Glacier Bancorp were worth $74,402,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC increased its position in Glacier Bancorp by 349.1% during the third quarter. Intech Investment Management LLC now owns 24,931 shares of the bank’s stock worth $1,139,000 after acquiring an additional 19,380 shares during the period. LMR Partners LLP bought a new position in shares of Glacier Bancorp during the 3rd quarter worth about $543,000. Thrivent Financial for Lutherans raised its position in shares of Glacier Bancorp by 19.8% during the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after buying an additional 280,255 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Glacier Bancorp by 30.9% during the third quarter. Natixis Advisors LLC now owns 331,121 shares of the bank’s stock valued at $15,132,000 after buying an additional 78,107 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Glacier Bancorp by 25.5% in the third quarter. Royce & Associates LP now owns 122,757 shares of the bank’s stock valued at $5,610,000 after buying an additional 24,915 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Trading Up 0.1 %

Shares of GBCI opened at $58.42 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market cap of $6.62 billion, a PE ratio of 36.06 and a beta of 0.77. Glacier Bancorp, Inc. has a 1 year low of $32.00 and a 1 year high of $60.67. The stock has a 50 day simple moving average of $50.80 and a 200-day simple moving average of $44.18.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) 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 analyst estimates of $212.57 million. During the same period in the prior year, the company posted $0.47 earnings per share. On average, sell-side analysts predict that Glacier Bancorp, Inc. will post 1.7 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.26%. The ex-dividend date is Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio is currently 81.48%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Raymond James boosted their price target on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Truist Financial upped their target price 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 lifted their price target on shares of 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, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.20.

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.