Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by Skylands Capital LLC

Skylands Capital LLC cut its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 53.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,600 shares of the bank’s stock after selling 8,900 shares during the period. Skylands Capital LLC’s holdings in Glacier Bancorp were worth $314,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Allworth Financial LP lifted its holdings in Glacier Bancorp by 409.4% in the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after acquiring an additional 479 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Glacier Bancorp in the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new position in Glacier Bancorp during the 4th quarter valued at approximately $28,000. Selway Asset Management bought a new position in Glacier Bancorp during the 3rd quarter worth $47,000. Finally, Allspring Global Investments Holdings LLC increased its position in Glacier Bancorp by 14.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock worth $93,000 after buying an additional 413 shares during the period. Institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on GBCI. Truist Financial dropped their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. DA Davidson reduced their price target on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Raymond James raised their price target on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, January 5th. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. Finally, Stephens decreased their target price on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Price Performance

NASDAQ:GBCI opened at $36.45 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $37.86 and its 200 day moving average price is $37.01. Glacier Bancorp, Inc. has a 52-week low of $26.77 and a 52-week high of $44.06. The firm has a market cap of $4.13 billion, a P/E ratio of 21.19 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The business had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, sell-side analysts predict that Glacier Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, April 8th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.62%. Glacier Bancorp’s payout ratio is 75.43%.

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.