Cambridge Investment Research Advisors Inc. reduced its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI – Get Rating) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,918 shares of the bank's stock after selling 1,735 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Glacier Bancorp were worth $1,561,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in GBCI. Byrne Asset Management LLC acquired a new stake in shares of Glacier Bancorp during the fourth quarter worth $29,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Glacier Bancorp during the first quarter worth $51,000. Covestor Ltd lifted its stake in shares of Glacier Bancorp by 115.0% during the first quarter. Covestor Ltd now owns 1,045 shares of the bank's stock worth $53,000 after buying an additional 559 shares during the period. GHP Investment Advisors Inc. acquired a new position in Glacier Bancorp during the first quarter valued at $70,000. Finally, Curi Wealth Management LLC acquired a new position in Glacier Bancorp during the first quarter valued at $100,000. 69.88% of the stock is currently owned by institutional investors and hedge funds.
Get Glacier Bancorp alerts:Glacier Bancorp Trading Down 0.6 %
NASDAQ GBCI opened at $49.13 on Friday. The company has a market capitalization of $5.44 billion, a PE ratio of 19.27 and a beta of 0.81. The company has a fifty day moving average of $51.18 and a 200 day moving average of $49.09. Glacier Bancorp, Inc. has a 1 year low of $44.43 and a 1 year high of $60.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.65 and a quick ratio of 0.65.
Glacier Bancorp (NASDAQ:GBCI – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The bank reported $0.69 earnings per share for the quarter, meeting analysts' consensus estimates of $0.69. Glacier Bancorp had a net margin of 30.72% and a return on equity of 9.50%. The company had revenue of $221.72 million during the quarter, compared to analysts' expectations of $225.85 million. During the same quarter in the previous year, the company earned $0.81 earnings per share. Research analysts forecast that Glacier Bancorp, Inc. will post 2.81 earnings per share for the current year.Glacier Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Tuesday, October 11th will be issued a $0.33 dividend. This is a boost from Glacier Bancorp's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, October 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.69%. Glacier Bancorp's payout ratio is presently 51.76%.
Analysts Set New Price Targets
Separately, Truist Financial boosted their target price on shares of Glacier Bancorp from $53.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, September 14th.
Glacier Bancorp Profile
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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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposit, negotiated-rate jumbo certificates, and individual retirement accounts.
Further Reading
- Get a free copy of the StockNews.com research report on Glacier Bancorp (GBCI)
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