Fisher Asset Management LLC Reduces Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Fisher Asset Management LLC lessened its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 820,995 shares of the bank’s stock after selling 17,314 shares during the quarter. Fisher Asset Management LLC’s holdings in Glacier Bancorp were worth $37,519,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GBCI. Cerity Partners LLC increased its stake in shares of Glacier Bancorp by 30.8% in the third quarter. Cerity Partners LLC now owns 63,857 shares of the bank’s stock worth $2,918,000 after acquiring an additional 15,054 shares during the period. Citigroup Inc. boosted its holdings in Glacier Bancorp by 10.5% in the third quarter. Citigroup Inc. now owns 153,489 shares of the bank’s stock valued at $7,014,000 after purchasing an additional 14,635 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Glacier Bancorp by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock valued at $74,402,000 after buying an additional 49,006 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Glacier Bancorp by 349.1% during the 3rd quarter. Intech Investment Management LLC now owns 24,931 shares of the bank’s stock valued at $1,139,000 after buying an additional 19,380 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Glacier Bancorp in the 3rd quarter valued at about $543,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Trading Down 0.9 %

Shares of NASDAQ:GBCI opened at $58.38 on Wednesday. The business’s 50 day moving average price is $50.33 and its 200-day moving average price is $43.98. Glacier Bancorp, Inc. has a 1 year low of $32.00 and a 1 year high of $60.67. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 36.04 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The business had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. During the same quarter last year, the business earned $0.47 earnings per share. On average, equities research analysts forecast that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.26%. Glacier Bancorp’s payout ratio is currently 81.48%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GBCI shares. Raymond James lifted their price target on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Truist Financial lifted their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th. Finally, Piper Sandler boosted their target price on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.20.

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.