Oppenheimer Asset Management Inc. Sells 232 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Oppenheimer Asset Management Inc. trimmed its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 17,959 shares of the bank’s stock after selling 232 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Glacier Bancorp were worth $821,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GBCI. Allspring Global Investments Holdings LLC bought a new position in shares of Glacier Bancorp in the 1st quarter worth $25,000. International Assets Investment Management LLC bought a new position in shares of Glacier Bancorp in the 2nd quarter worth $25,000. GAMMA Investing LLC grew its stake 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 buying an additional 772 shares during the last quarter. Venturi Wealth Management LLC grew its stake 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 last quarter. Finally, Intech Investment Management LLC purchased a new position in Glacier Bancorp during the 2nd quarter worth $207,000. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Stock Up 0.3 %

Glacier Bancorp stock opened at $56.43 on Tuesday. 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 business’s 50-day simple moving average is $48.67 and its two-hundred day simple moving average is $43.18. The company has a market cap of $6.40 billion, a PE ratio of 34.83 and a beta of 0.77. Glacier Bancorp, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $59.19.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results 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 business had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same quarter in the previous year, the business earned $0.47 EPS. Equities analysts anticipate that Glacier Bancorp, Inc. will post 1.67 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.34%. Glacier Bancorp’s payout ratio is 81.48%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GBCI shares. Raymond James boosted 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. Truist Financial boosted their target price on 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 boosted their target price on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average 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.