Principal Financial Group Inc. Has $12.03 Million Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Principal Financial Group Inc. decreased its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 30.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 263,199 shares of the bank’s stock after selling 117,123 shares during the quarter. Principal Financial Group Inc.’s holdings in Glacier Bancorp were worth $12,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GBCI. Sei Investments Co. raised its stake in Glacier Bancorp by 46.2% in the 1st quarter. Sei Investments Co. now owns 148,305 shares of the bank’s stock valued at $5,974,000 after acquiring an additional 46,890 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Glacier Bancorp by 21.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock valued at $3,160,000 after purchasing an additional 13,655 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of Glacier Bancorp during the 1st quarter worth about $477,000. Blue Trust Inc. boosted its holdings in shares of Glacier Bancorp by 20,598.6% during the 2nd quarter. Blue Trust Inc. now owns 14,903 shares of the bank’s stock worth $600,000 after buying an additional 14,831 shares during the period. Finally, Capital Research Global Investors grew its stake in Glacier Bancorp by 60.3% in the 1st quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock valued at $77,539,000 after buying an additional 724,089 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $56.24 on Monday. The firm has a 50-day moving average price of $48.41 and a two-hundred day moving average price of $43.05. Glacier Bancorp, Inc. has a 12-month low of $32.00 and a 12-month high of $59.19. The company has a market capitalization of $6.38 billion, a P/E ratio of 34.72 and a beta of 0.77. 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 issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The business had revenue of $324.28 million during the quarter, compared to analysts’ expectations of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same period in the previous year, the company posted $0.47 earnings per share. Analysts anticipate that Glacier Bancorp, Inc. will post 1.67 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.35%. Glacier Bancorp’s payout ratio is 81.48%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler raised their price objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Raymond James increased their target price on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial lifted their price target on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and a consensus target price of $46.20.

About Glacier Bancorp

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.