Eagle Asset Management Inc. Has $902,000 Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Eagle Asset Management Inc. lessened its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 13.7% in the third quarter, Holdings Channel reports. The institutional investor owned 19,739 shares of the bank’s stock after selling 3,140 shares during the period. Eagle Asset Management Inc.’s holdings in Glacier Bancorp were worth $902,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in shares of Glacier Bancorp during the second quarter valued at $25,000. GAMMA Investing LLC raised its position in Glacier Bancorp by 96.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after purchasing an additional 772 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Glacier Bancorp by 44.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after buying an additional 927 shares during the period. Intech Investment Management LLC acquired a new position in Glacier Bancorp during the 2nd quarter worth about $207,000. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of Glacier Bancorp in the 3rd quarter valued at about $252,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Raymond James raised their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Piper Sandler raised their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report 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 stock a “hold” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.20.

Glacier Bancorp Trading Up 1.0 %

Shares of GBCI stock opened at $58.89 on Tuesday. Glacier Bancorp, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $60.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day simple moving average of $50.06 and a two-hundred day simple moving average of $43.85. The company has a market cap of $6.68 billion, a P/E ratio of 36.35 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same quarter in the previous year, the business posted $0.47 EPS. Research analysts forecast that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.24%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%.

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.