Argent Capital Management LLC Purchases 4,853 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Argent Capital Management LLC boosted its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 38.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,411 shares of the bank’s stock after acquiring an additional 4,853 shares during the quarter. Argent Capital Management LLC’s holdings in Glacier Bancorp were worth $874,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GBCI. Geode Capital Management LLC lifted its position in Glacier Bancorp by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock worth $132,662,000 after buying an additional 41,160 shares in the last quarter. 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 worth $97,450,000 after purchasing an additional 103,374 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Glacier Bancorp by 19.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock worth $77,435,000 after purchasing an additional 280,255 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Glacier Bancorp by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock worth $74,402,000 after purchasing an additional 49,006 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Glacier Bancorp by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock worth $70,134,000 after purchasing an additional 6,394 shares during the last quarter. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI opened at $50.87 on Thursday. The company’s 50 day moving average price is $54.03 and its two-hundred day moving average price is $47.88. Glacier Bancorp, Inc. has a 12-month low of $34.35 and a 12-month high of $60.67. The firm has a market cap of $5.77 billion, a PE ratio of 29.44 and a beta of 0.81. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $212.57 million. During the same quarter in the prior year, the business posted $0.47 EPS. Equities research analysts predict that Glacier Bancorp, Inc. will post 1.73 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.59%. Glacier Bancorp’s payout ratio is presently 81.48%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GBCI. Raymond James restated an “outperform” rating and set a $55.00 price objective (up from $52.00) on shares of Glacier Bancorp in a research note on Wednesday. Piper Sandler upped their price target on shares of Glacier Bancorp from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their price target on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Truist Financial upped their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and a consensus target price of $52.00.

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.