Glacier Bancorp, Inc. $GBCI Position Reduced by Peregrine Capital Management LLC

Peregrine Capital Management LLC trimmed its position in Glacier Bancorp, Inc. (NYSE:GBCI) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,358 shares of the company’s stock after selling 10,639 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.19% of Glacier Bancorp worth $11,005,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GBCI. Natixis Advisors LLC lifted its stake in Glacier Bancorp by 15.0% in the 3rd quarter. Natixis Advisors LLC now owns 562,404 shares of the company’s stock worth $27,372,000 after acquiring an additional 73,545 shares in the last quarter. American National Bank & Trust purchased a new position in Glacier Bancorp during the 4th quarter valued at about $4,821,000. Capital International Investors increased its holdings in shares of Glacier Bancorp by 17.1% in the 3rd quarter. Capital International Investors now owns 1,742,780 shares of the company’s stock valued at $84,821,000 after purchasing an additional 254,514 shares during the period. Deprince Race & Zollo Inc. increased its holdings in shares of Glacier Bancorp by 30.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company’s stock valued at $73,229,000 after purchasing an additional 390,366 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Glacier Bancorp by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company’s stock worth $146,736,000 after purchasing an additional 237,316 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Stephens upped their price objective on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. Finally, DA Davidson lifted their target price on shares of Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.17.

Glacier Bancorp Stock Down 0.6%

GBCI opened at $51.61 on Wednesday. Glacier Bancorp, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $53.99. The business has a 50-day moving average of $48.39 and a 200-day moving average of $47.46. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $6.72 billion, a PE ratio of 24.12 and a beta of 0.74.

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. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.The business had revenue of $309.61 million during the quarter. During the same period in the previous year, the firm posted $0.48 EPS. Equities research analysts forecast that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, July 7th. Glacier Bancorp’s payout ratio is currently 61.68%.

Glacier Bancorp Company Profile

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.