Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Acquired by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC grew its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 321,500 shares of the bank’s stock after purchasing an additional 13,000 shares during the period. Ceredex Value Advisors LLC’s holdings in Glacier Bancorp were worth $14,693,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GBCI. Dimensional Fund Advisors LP increased its stake in shares of Glacier Bancorp by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,611,345 shares of the bank’s stock valued at $97,450,000 after acquiring an additional 103,374 shares during the last quarter. Capital Research Global Investors raised its position in shares of Glacier Bancorp by 60.3% during the 1st quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock valued at $77,539,000 after acquiring an additional 724,089 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Glacier Bancorp by 10.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,528,273 shares of the bank’s stock worth $57,035,000 after purchasing an additional 149,404 shares during the period. Thrivent Financial for Lutherans grew its position in Glacier Bancorp by 2.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,414,154 shares of the bank’s stock valued at $52,776,000 after buying an additional 40,120 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Glacier Bancorp by 9.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,125,955 shares of the bank’s stock worth $42,021,000 after buying an additional 99,811 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $51.68 on Friday. The firm’s fifty day moving average price is $46.45 and its two-hundred day moving average price is $41.63. Glacier Bancorp, Inc. has a 1 year low of $30.18 and a 1 year high of $53.93. The firm has a market capitalization of $5.86 billion, a P/E ratio of 31.87 and a beta of 0.80. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62.

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, beating analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The company had revenue of $324.28 million during the quarter, compared to analysts’ expectations of $212.57 million. During the same period last year, the firm posted $0.47 earnings per share. As a group, research analysts anticipate that Glacier Bancorp, Inc. will post 1.65 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, October 8th were paid a $0.33 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 annualized dividend and a yield of 2.55%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Raymond James increased their price target on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Piper Sandler increased their price target on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Finally, Truist Financial boosted their price target 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. One investment 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’s stock. According to data from MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and an average price target of $46.20.

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.