Citigroup Inc. Increases Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Citigroup Inc. lifted its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 10.5% in the third quarter, HoldingsChannel.com reports. The firm owned 153,489 shares of the bank’s stock after acquiring an additional 14,635 shares during the quarter. Citigroup Inc.’s holdings in Glacier Bancorp were worth $7,014,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Glacier Bancorp during the 2nd quarter worth approximately $25,000. GAMMA Investing LLC boosted 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 purchasing an additional 772 shares during the period. Venturi Wealth Management LLC raised 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 valued at $137,000 after acquiring an additional 927 shares during the last quarter. Intech Investment Management LLC purchased a new position in Glacier Bancorp in the 2nd quarter valued at $207,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in Glacier Bancorp in the third quarter valued at about $252,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Price Performance

Glacier Bancorp stock opened at $57.89 on Friday. The business’s 50-day simple moving average is $51.04 and its 200 day simple moving average is $44.36. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 35.73 and a beta of 0.77. Glacier Bancorp, Inc. has a 12-month low of $33.23 and a 12-month high of $60.67. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.

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

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.28%. Glacier Bancorp’s dividend payout ratio (DPR) is 81.48%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Raymond James increased their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Truist Financial raised their price objective on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, Piper Sandler raised their target price on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 28th. One 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.