Glacier Bancorp, Inc. (NASDAQ:GBCI) Stock Position Lifted by State of Alaska Department of Revenue
State of Alaska Department of Revenue boosted its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,283 shares of the bank’s stock after purchasing an additional 506 shares during the period. State of Alaska Department of Revenue’s holdings in Glacier Bancorp were worth $521,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Portfolio Solutions LLC grew its position in Glacier Bancorp by 80.0% during the second quarter. Orion Portfolio Solutions LLC now owns 745 shares of the bank’s stock valued at $26,000 after purchasing an additional 331 shares in the last quarter. FinTrust Capital Advisors LLC bought a new stake in Glacier Bancorp in the first quarter worth approximately $32,000. Ameritas Investment Company LLC bought a new stake in Glacier Bancorp in the first quarter worth approximately $34,000. Dupont Capital Management Corp bought a new stake in Glacier Bancorp in the second quarter worth approximately $76,000. Finally, Steward Partners Investment Advisory LLC grew its position in Glacier Bancorp by 33.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 4,947 shares of the bank’s stock worth $175,000 after acquiring an additional 1,238 shares in the last quarter. 70.27% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on GBCI shares. BidaskClub raised shares of Glacier Bancorp from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 7th. ValuEngine downgraded shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 17th. TheStreet downgraded shares of Glacier Bancorp from a “b-” rating to a “c+” rating in a research report on Tuesday, July 14th. Finally, Piper Sandler decreased their target price on shares of Glacier Bancorp from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, October 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $40.75.
Shares of Glacier Bancorp stock opened at $35.03 on Friday. The firm has a fifty day simple moving average of $34.07 and a 200-day simple moving average of $35.73. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.10. Glacier Bancorp, Inc. has a 1-year low of $26.66 and a 1-year high of $46.54. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 15.16 and a beta of 1.04.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.16. Glacier Bancorp had a net margin of 29.49% and a return on equity of 10.82%. The business had revenue of $189.44 million during the quarter, compared to analysts’ expectations of $175.17 million. As a group, research analysts predict that Glacier Bancorp, Inc. will post 2.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Stockholders of record on Tuesday, October 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.43%. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, October 9th. Glacier Bancorp’s payout ratio is presently 50.42%.
Glacier Bancorp Company Profile
Glacier Bancorp, Inc operates as the 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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.
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