Snyder Capital Management L P Sells 16,030 Shares of Glacier Bancorp, Inc. $GBCI

Snyder Capital Management L P trimmed its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.6% in the third quarter, HoldingsChannel.com reports. The fund owned 1,006,557 shares of the bank’s stock after selling 16,030 shares during the quarter. Snyder Capital Management L P’s holdings in Glacier Bancorp were worth $48,989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaQuest LLC grew its stake in Glacier Bancorp by 9.5% during the second quarter. AlphaQuest LLC now owns 3,001 shares of the bank’s stock worth $129,000 after buying an additional 260 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Glacier Bancorp by 20.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,609 shares of the bank’s stock worth $78,000 after acquiring an additional 273 shares in the last quarter. M&T Bank Corp increased its stake in Glacier Bancorp by 0.4% in the second quarter. M&T Bank Corp now owns 69,744 shares of the bank’s stock valued at $3,004,000 after acquiring an additional 307 shares during the last quarter. Inspire Investing LLC raised its position in Glacier Bancorp by 4.0% during the third quarter. Inspire Investing LLC now owns 9,360 shares of the bank’s stock valued at $456,000 after purchasing an additional 357 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in Glacier Bancorp by 1.9% during the second quarter. EP Wealth Advisors LLC now owns 21,642 shares of the bank’s stock worth $932,000 after purchasing an additional 394 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Analyst Ratings Changes

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

Glacier Bancorp Stock Performance

NASDAQ:GBCI opened at $45.27 on Thursday. The stock’s 50-day moving average is $48.42 and its 200-day moving average is $46.47. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $53.99. 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 stock has a market cap of $5.89 billion, a P/E ratio of 27.11 and a beta of 0.76.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, January 22nd. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same quarter last year, the company earned $0.54 EPS. Equities research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share 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.