Retirement Systems of Alabama Has $5.74 Million Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Retirement Systems of Alabama increased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 138,871 shares of the bank’s stock after buying an additional 431 shares during the period. Retirement Systems of Alabama owned 0.13% of Glacier Bancorp worth $5,738,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cercano Management LLC acquired a new position in Glacier Bancorp in the fourth quarter worth approximately $13,112,000. GAMMA Investing LLC bought a new stake in Glacier Bancorp during the fourth quarter worth approximately $25,000. Stockman Wealth Management Inc. bought a new stake in Glacier Bancorp during the fourth quarter worth approximately $202,000. CWM LLC boosted its position in Glacier Bancorp by 3.5% during the fourth quarter. CWM LLC now owns 35,533 shares of the bank’s stock worth $1,468,000 after purchasing an additional 1,214 shares during the period. Finally, Signaturefd LLC boosted its position in Glacier Bancorp by 51.9% during the fourth quarter. Signaturefd LLC now owns 3,727 shares of the bank’s stock worth $154,000 after purchasing an additional 1,274 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Shares of NASDAQ GBCI opened at $37.91 on Monday. The business has a fifty day simple moving average of $37.89 and a 200 day simple moving average of $37.20. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 21.66 and a beta of 0.81. Glacier Bancorp, Inc. has a one year low of $26.77 and a one year high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Wednesday, April 24th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The firm had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. Sell-side analysts expect that Glacier Bancorp, Inc. will post 1.68 EPS for the current year.

Glacier Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.33 per share. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Monday, April 8th. Glacier Bancorp’s dividend payout ratio is currently 75.43%.

Analyst Ratings Changes

A number of brokerages have issued reports on GBCI. Truist Financial decreased their target price on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Stephens reduced their price objective on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. StockNews.com raised Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Finally, DA Davidson reduced their price objective on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.40.

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.