Hilltop National Bank Makes New Investment in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Hilltop National Bank purchased a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,627 shares of the bank’s stock, valued at approximately $267,000.

A number of other large investors also recently added to or reduced their stakes in GBCI. Federated Hermes Inc. increased its position in shares of Glacier Bancorp by 3.2% during the fourth quarter. Federated Hermes Inc. now owns 9,580 shares of the bank’s stock worth $396,000 after acquiring an additional 300 shares during the period. Xponance Inc. increased its position in shares of Glacier Bancorp by 2.0% during the fourth quarter. Xponance Inc. now owns 16,355 shares of the bank’s stock worth $676,000 after acquiring an additional 326 shares during the period. CWM LLC increased its position in shares of Glacier Bancorp by 0.9% during the first quarter. CWM LLC now owns 35,864 shares of the bank’s stock worth $1,445,000 after acquiring an additional 331 shares during the period. Retirement Systems of Alabama increased its position in shares of Glacier Bancorp by 0.3% during the first quarter. Retirement Systems of Alabama now owns 139,241 shares of the bank’s stock worth $5,609,000 after acquiring an additional 370 shares during the period. Finally, Allworth Financial LP increased its position in shares of Glacier Bancorp by 409.4% during 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 period. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GBCI. StockNews.com raised Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Stephens dropped their target price on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 23rd. Truist Financial dropped their target price on Glacier Bancorp from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Monday, July 8th. Finally, DA Davidson dropped their target price on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.00.

Glacier Bancorp Stock Performance

Shares of GBCI stock traded down $0.41 during mid-day trading on Friday, hitting $39.40. 720,534 shares of the stock were exchanged, compared to its average volume of 562,773. The stock’s fifty day simple moving average is $37.16 and its two-hundred day simple moving average is $38.06. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.75 and a beta of 0.81. Glacier Bancorp, Inc. has a 12-month low of $26.83 and a 12-month high of $44.06. 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 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). The firm had revenue of $196.47 million for the quarter, compared to analysts’ expectations of $202.66 million. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. On average, analysts forecast that Glacier Bancorp, Inc. will post 1.64 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, July 9th. Glacier Bancorp’s payout ratio is 75.43%.

About Glacier Bancorp

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.