Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,412 shares of the bank’s stock after selling 8,037 shares during the quarter. ProShare Advisors LLC owned approximately 0.20% of Glacier Bancorp worth $8,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in shares of Glacier Bancorp by 409.4% in the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after acquiring an additional 479 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Glacier Bancorp in the first quarter worth $25,000. GAMMA Investing LLC bought a new stake in Glacier Bancorp during the fourth quarter valued at $25,000. FNY Investment Advisers LLC bought a new stake in Glacier Bancorp during the fourth quarter valued at $28,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Glacier Bancorp during the first quarter worth $50,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GBCI. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a report on Thursday, June 6th. DA Davidson decreased their target price on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Truist Financial dropped their price target on Glacier Bancorp from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Finally, Stephens reduced their price objective on 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.00.

Glacier Bancorp Stock Performance

NASDAQ GBCI traded up $0.67 on Wednesday, hitting $44.10. The stock had a trading volume of 1,194,991 shares, compared to its average volume of 655,546. The company’s 50-day moving average is $37.34 and its two-hundred day moving average is $38.00. Glacier Bancorp, Inc. has a one year low of $26.83 and a one year high of $44.75. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 24.82 and a beta of 0.81. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76.

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

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, July 9th. Glacier Bancorp’s dividend payout ratio (DPR) 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.