Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC increased its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 41.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,392 shares of the bank’s stock after purchasing an additional 10,921 shares during the period. ProShare Advisors LLC’s holdings in Glacier Bancorp were worth $1,878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GBCI. Barclays PLC boosted its stake in Glacier Bancorp by 65.6% in the third quarter. Barclays PLC now owns 247,717 shares of the bank’s stock valued at $11,321,000 after acquiring an additional 98,158 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Glacier Bancorp in the fourth quarter valued at $273,000. SG Americas Securities LLC boosted its stake in Glacier Bancorp by 39.2% in the fourth quarter. SG Americas Securities LLC now owns 15,873 shares of the bank’s stock valued at $797,000 after acquiring an additional 4,469 shares in the last quarter. B.O.S.S. Retirement Advisors LLC acquired a new position in Glacier Bancorp in the fourth quarter valued at $251,000. Finally, Blue Trust Inc. boosted its stake in Glacier Bancorp by 192.9% in the fourth quarter. Blue Trust Inc. now owns 5,087 shares of the bank’s stock valued at $232,000 after acquiring an additional 3,350 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Stephens upgraded shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler decreased their price objective on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Raymond James set a $45.00 target price on shares of Glacier Bancorp in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.50.

Glacier Bancorp Price Performance

Shares of GBCI opened at $42.38 on Wednesday. Glacier Bancorp, Inc. has a fifty-two week low of $34.48 and a fifty-two week high of $60.67. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 25.38 and a beta of 0.79. The firm has a 50-day simple moving average of $41.97 and a 200-day simple moving average of $48.34. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, equities research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.11%. Glacier Bancorp’s dividend payout ratio is currently 70.97%.

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.