Heartland Advisors Inc. Lowers Stock Position in Glacier Bancorp, Inc. $GBCI

Heartland Advisors Inc. lessened its stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI) by 19.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 371,528 shares of the company’s stock after selling 92,586 shares during the quarter. Glacier Bancorp makes up 0.9% of Heartland Advisors Inc.’s investment portfolio, making the stock its 27th biggest position. Heartland Advisors Inc.’s holdings in Glacier Bancorp were worth $16,366,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Global Retirement Partners LLC lifted its position in shares of Glacier Bancorp by 41.2% during the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after purchasing an additional 223 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Glacier Bancorp by 9.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,706 shares of the company’s stock worth $163,000 after purchasing an additional 306 shares in the last quarter. State of Wyoming lifted its position in shares of Glacier Bancorp by 22.5% during the fourth quarter. State of Wyoming now owns 1,763 shares of the company’s stock worth $78,000 after purchasing an additional 324 shares in the last quarter. Ethic Inc. lifted its position in shares of Glacier Bancorp by 5.9% during the fourth quarter. Ethic Inc. now owns 6,917 shares of the company’s stock worth $305,000 after purchasing an additional 386 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its position in shares of Glacier Bancorp by 1.9% during the second quarter. EP Wealth Advisors LLC now owns 21,642 shares of the company’s stock worth $932,000 after purchasing an additional 394 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Piper Sandler increased their price target on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. DA Davidson increased their price target on shares of Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Wall Street Zen raised shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Stephens increased their price target on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.17.

Glacier Bancorp Stock Up 0.3%

Shares of NYSE:GBCI opened at $47.94 on Thursday. The firm’s 50 day moving average price is $47.60 and its 200 day moving average price is $46.76. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 22.40 and a beta of 0.74. Glacier Bancorp, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $53.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.06.

Glacier Bancorp (NYSE:GBCI) last issued its earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. The firm had revenue of $309.61 million for the quarter. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. During the same period last year, the business earned $0.48 EPS. As a group, equities research analysts predict that Glacier Bancorp, Inc. will post 3.16 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Tuesday, April 7th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $1.32 annualized dividend and a yield of 2.8%. Glacier Bancorp’s dividend payout ratio (DPR) is 61.68%.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.