Massachusetts Financial Services Co. MA Sells 30,826 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Massachusetts Financial Services Co. MA lessened its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,095,129 shares of the bank’s stock after selling 30,826 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.97% of Glacier Bancorp worth $50,047,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP raised 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 acquiring an additional 103,374 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Glacier Bancorp by 19.8% during the third 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 in the last quarter. Victory Capital Management Inc. lifted its holdings 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 valued at $70,134,000 after purchasing an additional 6,394 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Glacier Bancorp by 34.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 485,574 shares of the bank’s stock worth $19,559,000 after purchasing an additional 124,891 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Glacier Bancorp by 131.9% during the 2nd quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock worth $17,807,000 after buying an additional 271,398 shares during the last quarter. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $58.33 on Monday. Glacier Bancorp, Inc. has a 52 week low of $32.00 and a 52 week high of $59.19. The business’s 50 day moving average price is $49.78 and its 200 day moving average price is $43.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm has a market cap of $6.61 billion, a P/E ratio of 36.01 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 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The business had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. During the same period in the prior year, the firm earned $0.47 EPS. On average, sell-side analysts expect that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th will be paid 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 2.26%. Glacier Bancorp’s payout ratio is currently 81.48%.

Wall Street Analyst Weigh In

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

Glacier Bancorp Company 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.