Sterling Capital Management LLC Has $4.78 Million Stock Position in Glacier Bancorp, Inc. $GBCI

Sterling Capital Management LLC reduced its holdings in Glacier Bancorp, Inc. (NYSE:GBCI) by 9.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 107,093 shares of the company’s stock after selling 11,060 shares during the quarter. Sterling Capital Management LLC’s holdings in Glacier Bancorp were worth $4,784,000 at the end of the most recent quarter.

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

Glacier Bancorp Trading Up 2.1%

Shares of GBCI stock opened at $51.87 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 24.24 and a beta of 0.74. Glacier Bancorp, Inc. has a 52-week low of $39.90 and a 52-week high of $53.99. The company has a 50-day simple moving average of $48.25 and a two-hundred day simple moving average of $47.31.

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

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, July 7th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 61.68%.

Analyst Ratings Changes

A number of research firms have commented on GBCI. 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 report on Wednesday, April 29th. DA Davidson increased their price objective on shares of Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a research report 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. Finally, Wall Street Zen raised Glacier Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.17.

Glacier Bancorp 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.