Iron Gate Global Advisors LLC Sells 3,300 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Iron Gate Global Advisors LLC reduced its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 41.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,730 shares of the bank’s stock after selling 3,300 shares during the quarter. Iron Gate Global Advisors LLC’s holdings in Glacier Bancorp were worth $216,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans grew 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 worth $77,435,000 after buying an additional 280,255 shares in the last quarter. Millennium Management LLC increased its position in shares of Glacier Bancorp by 131.9% in the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock worth $17,807,000 after acquiring an additional 271,398 shares in the last quarter. Sei Investments Co. raised its holdings in Glacier Bancorp by 123.9% during 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. Ceredex Value Advisors LLC raised its holdings in Glacier Bancorp by 145.0% in the second quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock worth $11,513,000 after purchasing an additional 182,600 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of Glacier Bancorp by 187.1% in the second quarter. Natixis Advisors LLC now owns 253,014 shares of the bank’s stock worth $9,442,000 after acquiring an additional 164,897 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GBCI shares. Piper Sandler lifted their target price on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Raymond James increased their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial boosted their target price on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report 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 given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.20.

Glacier Bancorp Stock Performance

GBCI opened at $58.04 on Tuesday. The business’s fifty day moving average is $51.28 and its 200-day moving average is $44.53. Glacier Bancorp, Inc. has a 52-week low of $34.35 and a 52-week high of $60.67. The firm has a market cap of $6.58 billion, a P/E ratio of 35.74 and a beta of 0.79. 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 announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $212.57 million. During the same period in the prior year, the company earned $0.47 EPS. Sell-side analysts expect 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 issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.27%. Glacier Bancorp’s dividend payout ratio is presently 81.48%.

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.