Glacier Bancorp, Inc. $GBCI Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC cut its position in Glacier Bancorp, Inc. (NYSE:GBCI) by 5.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 930,467 shares of the company’s stock after selling 56,895 shares during the quarter. Madison Asset Management LLC’s holdings in Glacier Bancorp were worth $41,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Root Financial Partners LLC grew its stake in shares of Glacier Bancorp by 122.5% in the first quarter. Root Financial Partners LLC now owns 652 shares of the company’s stock worth $29,000 after acquiring an additional 359 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Glacier Bancorp in the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC grew its position in shares of Glacier Bancorp by 218.8% during the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock worth $31,000 after buying an additional 490 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Glacier Bancorp by 41.2% during the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after buying an additional 223 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Glacier Bancorp during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of NYSE GBCI opened at $52.34 on Tuesday. The stock’s 50-day simple moving average is $49.31 and its 200-day simple moving average is $48.16. The firm has a market capitalization of $6.81 billion, a PE ratio of 24.46 and a beta of 0.72. Glacier Bancorp, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $54.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83.

Glacier Bancorp (NYSE:GBCI) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The firm had revenue of $309.61 million during the quarter. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.During the same period last year, the company earned $0.48 earnings per share. As a group, equities research analysts forecast that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were issued a $0.33 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.5%. Glacier Bancorp’s dividend payout ratio is presently 61.68%.

Analysts Set New Price Targets

GBCI has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Stephens increased their price objective on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. DA Davidson lifted their price objective on shares of Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.17.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.