Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management reduced its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 23.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,956 shares of the bank’s stock after selling 4,977 shares during the period. Financial Advocates Investment Management’s holdings in Glacier Bancorp were worth $729,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GBCI. Capital Research Global Investors increased its stake in Glacier Bancorp by 60.3% during the first quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock worth $77,539,000 after purchasing an additional 724,089 shares during the period. Clifford Capital Partners LLC boosted its position in Glacier Bancorp by 2,389.9% in the 1st quarter. Clifford Capital Partners LLC now owns 300,109 shares of the bank’s stock valued at $12,088,000 after buying an additional 288,056 shares during the period. Millennium Management LLC grew its stake 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. increased its position in shares of Glacier Bancorp by 123.9% during the second quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock worth $12,393,000 after acquiring an additional 183,757 shares during the period. Finally, Ceredex Value Advisors LLC increased its position in shares of Glacier Bancorp by 145.0% during the second quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock worth $11,513,000 after acquiring an additional 182,600 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GBCI has been the topic of several recent research reports. Piper Sandler upped their price target 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 raised their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Truist Financial boosted their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.20.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $51.63 on Friday. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 31.87 and a beta of 0.80. Glacier Bancorp, Inc. has a 52-week low of $30.18 and a 52-week high of $53.93. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $46.45 and a 200 day moving average price of $41.63.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $212.57 million. During the same period last year, the firm posted $0.47 EPS. Research analysts predict that Glacier Bancorp, Inc. will post 1.65 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Tuesday, October 8th. Glacier Bancorp’s payout ratio is currently 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.