FLC Capital Advisors Sells 1,000 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

FLC Capital Advisors decreased its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,600 shares of the bank’s stock after selling 1,000 shares during the period. FLC Capital Advisors’ holdings in Glacier Bancorp were worth $733,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GBCI. Argent Capital Management LLC boosted its position in Glacier Bancorp by 38.6% during the fourth quarter. Argent Capital Management LLC now owns 17,411 shares of the bank’s stock valued at $874,000 after buying an additional 4,853 shares during the period. Park Avenue Securities LLC bought a new stake in shares of Glacier Bancorp in the 4th quarter valued at about $273,000. GAMMA Investing LLC lifted its stake in shares of Glacier Bancorp by 20.9% in the 4th quarter. GAMMA Investing LLC now owns 3,042 shares of the bank’s stock valued at $153,000 after acquiring an additional 526 shares during the last quarter. Synovus Financial Corp boosted its holdings in Glacier Bancorp by 79.2% during the 3rd quarter. Synovus Financial Corp now owns 32,484 shares of the bank’s stock valued at $1,485,000 after acquiring an additional 14,359 shares during the period. Finally, Neo Ivy Capital Management bought a new position in Glacier Bancorp during the 3rd quarter worth approximately $1,568,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Up 1.8 %

Shares of Glacier Bancorp stock opened at $51.13 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp, Inc. has a 12-month low of $34.35 and a 12-month high of $60.67. The company has a market cap of $5.80 billion, a P/E ratio of 29.44 and a beta of 0.81. The company’s fifty day simple moving average is $53.66 and its two-hundred day simple moving average is $48.17.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The company had revenue of $324.28 million for the quarter, compared to analysts’ expectations of $212.57 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. Research analysts anticipate that Glacier Bancorp, Inc. will post 1.73 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio is currently 81.48%.

Analysts Set New Price Targets

Several brokerages have weighed in on GBCI. Raymond James reiterated an “outperform” rating and issued a $55.00 price objective (up previously from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. Keefe, Bruyette & Woods upped their price target on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Truist Financial raised their price target on shares of 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 objective on shares of Glacier Bancorp from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $52.00.

About Glacier Bancorp

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.