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

Eagle Asset Management Inc. lowered its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 13.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

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

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $58.89 on Tuesday. The firm’s 50 day simple moving average is $50.06 and its 200 day simple moving average is $43.85. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 36.35 and a beta of 0.77. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp, Inc. has a 1 year low of $32.00 and a 1 year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The firm had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. During the same quarter last year, the business posted $0.47 EPS. As a group, research analysts expect that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently announced 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. This represents a $1.32 annualized dividend and a yield of 2.24%. The ex-dividend date is Tuesday, December 10th. Glacier Bancorp’s payout ratio is 81.48%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GBCI. Truist Financial increased their target price 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. Piper Sandler increased their price target on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Raymond James lifted their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.20.

Glacier Bancorp 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.