D.A. Davidson & CO. Sells 14,546 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

D.A. Davidson & CO. decreased its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,747 shares of the bank’s stock after selling 14,546 shares during the quarter. D.A. Davidson & CO.’s holdings in Glacier Bancorp were worth $7,097,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Glacier Bancorp by 14.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock worth $93,000 after acquiring an additional 413 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Glacier Bancorp by 12.1% in the third quarter. Victory Capital Management Inc. now owns 1,310,453 shares of the bank’s stock valued at $37,348,000 after buying an additional 141,127 shares during the period. Arizona State Retirement System increased its stake in shares of Glacier Bancorp by 1.4% in the third quarter. Arizona State Retirement System now owns 31,568 shares of the bank’s stock valued at $900,000 after buying an additional 427 shares during the period. Boston Partners increased its stake in shares of Glacier Bancorp by 37.7% in the third quarter. Boston Partners now owns 172,119 shares of the bank’s stock valued at $4,905,000 after buying an additional 47,142 shares during the period. Finally, Swiss National Bank increased its stake in shares of Glacier Bancorp by 1.0% in the third quarter. Swiss National Bank now owns 243,721 shares of the bank’s stock valued at $6,946,000 after buying an additional 2,300 shares during the period. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Glacier Bancorp stock opened at $39.04 on Wednesday. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 22.33 and a beta of 0.81. Glacier Bancorp, Inc. has a 52-week low of $26.83 and a 52-week high of $44.06. The stock’s 50 day moving average price is $37.98 and its two-hundred day moving average price is $37.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The firm had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. Glacier Bancorp’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities analysts predict that Glacier Bancorp, Inc. will post 1.64 earnings per share for the current year.

Glacier Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were issued a $0.33 dividend. This is a boost 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 3.38%. The ex-dividend date of this dividend was Monday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

Wall Street Analyst Weigh In

GBCI has been the subject of a number of recent analyst reports. Truist Financial decreased their target price on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. DA Davidson decreased their target price on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. 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. Finally, StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. One 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. Based on data from MarketBeat.com, Glacier Bancorp presently has an average rating of “Hold” and an average price target of $40.40.

Glacier Bancorp 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.