138,128 Shares in Glacier Bancorp, Inc. $GBCI Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC acquired a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 138,128 shares of the bank’s stock, valued at approximately $6,723,000.

Other large investors also recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC increased its stake in shares of Glacier Bancorp by 7.9% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 20,452 shares of the bank’s stock worth $995,000 after acquiring an additional 1,489 shares during the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Glacier Bancorp by 4.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,173,967 shares of the bank’s stock worth $57,137,000 after acquiring an additional 52,338 shares during the period. Royce & Associates LP boosted its position in shares of Glacier Bancorp by 11.7% during the 3rd quarter. Royce & Associates LP now owns 381,398 shares of the bank’s stock valued at $18,563,000 after acquiring an additional 39,997 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Glacier Bancorp by 29.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 139,078 shares of the bank’s stock valued at $6,769,000 after acquiring an additional 32,048 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Glacier Bancorp by 2.5% in the third quarter. Xponance Inc. now owns 16,872 shares of the bank’s stock valued at $821,000 after purchasing an additional 418 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods restated an “underperform” rating on shares of Glacier Bancorp in a research report on Monday, January 26th. Stephens set a $58.00 target price on shares of Glacier Bancorp in a report on Monday, January 26th. Janney Montgomery Scott began coverage on shares of Glacier Bancorp in a research note on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 price target for the company. DA Davidson raised their price target on shares of Glacier Bancorp from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Piper Sandler set a $59.00 price target on shares of Glacier Bancorp and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Glacier Bancorp has a consensus rating of “Hold” and an average price target of $55.67.

Glacier Bancorp Stock Down 1.5%

Shares of NASDAQ:GBCI opened at $43.65 on Friday. The business has a 50-day moving average price of $48.35 and a 200 day moving average price of $46.43. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 26.14 and a beta of 0.75. Glacier Bancorp, Inc. has a 12-month low of $36.76 and a 12-month high of $53.99.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the previous year, the business earned $0.54 earnings per share. Sell-side analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.