Hsbc Holdings PLC Sells 38,265 Shares of Glacier Bancorp, Inc. $GBCI

Hsbc Holdings PLC reduced its holdings in Glacier Bancorp, Inc. (NYSE:GBCI) by 88.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,188 shares of the company’s stock after selling 38,265 shares during the period. Hsbc Holdings PLC’s holdings in Glacier Bancorp were worth $232,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its position in shares of Glacier Bancorp by 2.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 26,448 shares of the company’s stock valued at $1,181,000 after buying an additional 700 shares in the last quarter. QRG Capital Management Inc. increased its stake in Glacier Bancorp by 26.1% during the first quarter. QRG Capital Management Inc. now owns 9,129 shares of the company’s stock worth $408,000 after acquiring an additional 1,891 shares during the last quarter. HB Wealth Management LLC bought a new stake in Glacier Bancorp during the first quarter worth approximately $208,000. World Investment Advisors raised its position in Glacier Bancorp by 615.3% during the first quarter. World Investment Advisors now owns 40,414 shares of the company’s stock valued at $1,805,000 after purchasing an additional 34,764 shares during the period. Finally, Keybank National Association OH raised its position in Glacier Bancorp by 81.5% during the first quarter. Keybank National Association OH now owns 14,512 shares of the company’s stock valued at $648,000 after purchasing an additional 6,518 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GBCI has been the subject of a number of recent research reports. Piper Sandler lifted their target price on Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Glacier Bancorp in a report on Monday, July 20th. DA Davidson restated a “buy” rating and issued a $58.00 price target on shares of Glacier Bancorp in a research report on Monday, July 27th. Finally, Stephens boosted 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. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.17.

Glacier Bancorp Price Performance

NYSE GBCI opened at $50.44 on Tuesday. The firm’s fifty day simple moving average is $49.93 and its two-hundred day simple moving average is $48.45. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. Glacier Bancorp, Inc. has a 12-month low of $39.90 and a 12-month high of $54.58. The firm has a market capitalization of $6.56 billion, a P/E ratio of 20.67 and a beta of 0.74.

Glacier Bancorp (NYSE:GBCI) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. The firm had revenue of $320.94 million during the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same quarter in the prior year, the company posted $0.57 EPS. Analysts forecast that Glacier Bancorp, Inc. will post 3.15 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio is currently 54.10%.

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.