Glacier Bancorp, Inc. (NASDAQ:GBCI) Stock Holdings Lessened by Mairs & Power Inc.

Mairs & Power Inc. trimmed its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 214,730 shares of the bank’s stock after selling 14,495 shares during the period. Mairs & Power Inc.’s holdings in Glacier Bancorp were worth $8,873,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Glacier Bancorp by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,269,992 shares of the bank’s stock valued at $349,695,000 after purchasing an additional 67,091 shares during the period. Cooke & Bieler LP lifted its stake in Glacier Bancorp by 34.0% during the fourth quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock valued at $133,847,000 after buying an additional 821,199 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Glacier Bancorp by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,314,970 shares of the bank’s stock worth $95,661,000 after buying an additional 96,347 shares during the period. Capital International Investors increased its position in shares of Glacier Bancorp by 45.1% in the fourth quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after acquiring an additional 566,513 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Glacier Bancorp by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,478,811 shares of the bank’s stock valued at $61,104,000 after acquiring an additional 65,372 shares during the period. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Stock Up 2.7 %

GBCI traded up $0.95 during midday trading on Wednesday, hitting $36.05. 487,439 shares of the company’s stock traded hands, compared to its average volume of 656,214. 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 company has a market cap of $4.09 billion, a PE ratio of 20.57 and a beta of 0.80. The stock’s fifty day simple moving average is $37.41 and its 200-day simple moving average is $38.36. Glacier Bancorp, Inc. has a one year low of $26.83 and a one year high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last released 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 business had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. As a group, equities analysts anticipate that Glacier Bancorp, Inc. will post 1.64 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio is 75.43%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GBCI. StockNews.com raised Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Truist Financial reduced their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Stephens decreased their price target on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. Finally, DA Davidson dropped their price objective on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.40.

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.