Geode Capital Management LLC Increases Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Geode Capital Management LLC increased its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,902,373 shares of the bank’s stock after acquiring an additional 41,160 shares during the period. Geode Capital Management LLC owned approximately 2.56% of Glacier Bancorp worth $132,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. increased its position in shares of Glacier Bancorp by 2.6% during the second quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank’s stock worth $632,000 after acquiring an additional 427 shares during the last quarter. Cladis Investment Advisory LLC increased its holdings in Glacier Bancorp by 1.6% during the 3rd quarter. Cladis Investment Advisory LLC now owns 32,698 shares of the bank’s stock worth $1,494,000 after purchasing an additional 500 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Glacier Bancorp by 9.4% in the 3rd quarter. HighTower Advisors LLC now owns 5,882 shares of the bank’s stock valued at $277,000 after purchasing an additional 507 shares in the last quarter. Stifel Financial Corp raised its position in shares of Glacier Bancorp by 0.3% in the 3rd quarter. Stifel Financial Corp now owns 203,566 shares of the bank’s stock valued at $9,303,000 after purchasing an additional 582 shares in the last quarter. Finally, Inspire Investing LLC grew its position in shares of Glacier Bancorp by 6.7% during the second quarter. Inspire Investing LLC now owns 9,472 shares of the bank’s stock worth $353,000 after buying an additional 593 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of GBCI opened at $54.40 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $6.17 billion, a P/E ratio of 33.58 and a beta of 0.79. Glacier Bancorp, Inc. has a 12 month low of $34.35 and a 12 month high of $60.67. The stock has a fifty day moving average price of $53.50 and a 200 day moving average price of $45.80.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $324.28 million for the quarter, compared to analysts’ expectations of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same quarter last year, the company earned $0.47 EPS. On average, research analysts forecast that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.43%. Glacier Bancorp’s dividend payout ratio (DPR) is 81.48%.

Wall Street Analyst Weigh In

GBCI has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James upped their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Truist Financial increased their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, Piper Sandler boosted their price target on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.83.

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.