NFJ Investment Group LLC Sells 40,226 Shares of Glacier Bancorp, Inc. $GBCI

NFJ Investment Group LLC reduced its position in shares of Glacier Bancorp, Inc. (NYSE:GBCI) by 3.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,189,006 shares of the company’s stock after selling 40,226 shares during the quarter. Glacier Bancorp comprises approximately 1.9% of NFJ Investment Group LLC’s holdings, making the stock its 11th largest holding. NFJ Investment Group LLC’s holdings in Glacier Bancorp were worth $52,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. bought a new position in shares of Glacier Bancorp during the 4th quarter valued at approximately $31,000. EverSource Wealth Advisors LLC boosted its position in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock valued at $31,000 after acquiring an additional 490 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Glacier Bancorp by 41.2% during the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock valued at $34,000 after buying an additional 223 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in Glacier Bancorp during the 3rd quarter valued at $40,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in Glacier Bancorp during the 4th quarter valued at $46,000. 80.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on GBCI shares. Stephens increased their price target on Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Piper Sandler increased their target price on Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings upgraded Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. DA Davidson increased their target price on Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Wall Street Zen upgraded Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.17.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $49.94 on Friday. The firm has a market cap of $6.50 billion, a P/E ratio of 23.34 and a beta of 0.74. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Glacier Bancorp, Inc. has a 12 month low of $39.90 and a 12 month high of $53.99. The stock’s fifty day moving average price is $47.78 and its 200-day moving average price is $46.83.

Glacier Bancorp (NYSE:GBCI) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03. The firm had revenue of $309.61 million for the quarter. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.During the same quarter in the prior year, the business posted $0.48 EPS. On average, equities research analysts expect that Glacier Bancorp, Inc. will post 3.16 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Tuesday, April 7th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, April 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. Glacier Bancorp’s dividend payout ratio (DPR) is currently 61.68%.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.