Benjamin F. Edwards & Company Inc. Purchases 575,008 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Benjamin F. Edwards & Company Inc. increased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 5,065.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 586,360 shares of the bank’s stock after acquiring an additional 575,008 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Glacier Bancorp were worth $24,228,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Natixis Advisors L.P. increased its stake in shares of Glacier Bancorp by 22.2% in the 4th quarter. Natixis Advisors L.P. now owns 35,107 shares of the bank’s stock valued at $1,450,000 after acquiring an additional 6,376 shares in the last quarter. Johnson Financial Group LLC purchased a new position in Glacier Bancorp during the 4th quarter worth $248,000. Retirement Systems of Alabama boosted its holdings in Glacier Bancorp by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 138,871 shares of the bank’s stock worth $5,738,000 after acquiring an additional 431 shares during the last quarter. Cercano Management LLC purchased a new position in Glacier Bancorp during the 4th quarter worth $13,112,000. Finally, GAMMA Investing LLC purchased a new position in Glacier Bancorp during the 4th quarter worth $25,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI traded up $0.75 during midday trading on Thursday, hitting $37.65. 420,585 shares of the company’s stock were exchanged, compared to its average volume of 743,369. Glacier Bancorp, Inc. has a 12-month low of $26.77 and a 12-month high of $44.06. 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 company has a market cap of $4.27 billion, a price-to-earnings ratio of 21.10 and a beta of 0.81. The business’s fifty day moving average price is $37.84 and its two-hundred day moving average price is $37.06.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The business had revenue of $196.47 million for the quarter, compared to analysts’ expectations of $202.66 million. During the same period in the previous year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, research analysts forecast that Glacier Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.33 per share. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.51%. Glacier Bancorp’s payout ratio is presently 75.43%.

Analyst Upgrades and Downgrades

GBCI has been the topic of a number of research analyst reports. Truist Financial cut their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. DA Davidson cut their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Stephens lowered their price objective on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Finally, Raymond James upped their price target on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Glacier Bancorp has an average rating of “Hold” and a consensus price target of $40.40.

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.