Glacier Bancorp, Inc. (NASDAQ:GBCI) Stock Position Reduced by Dakota Wealth Management

Dakota Wealth Management cut its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 38,919 shares of the bank’s stock after selling 500 shares during the period. Dakota Wealth Management’s holdings in Glacier Bancorp were worth $1,955,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Glacier Bancorp by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock worth $132,662,000 after acquiring an additional 41,160 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Glacier Bancorp by 19.8% in the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock worth $77,435,000 after acquiring an additional 280,255 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Glacier Bancorp by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock worth $74,402,000 after acquiring an additional 49,006 shares in the last quarter. Victory Capital Management Inc. grew its position in Glacier Bancorp by 0.4% in the third quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock worth $70,134,000 after acquiring an additional 6,394 shares in the last quarter. Finally, Port Capital LLC grew its position in Glacier Bancorp by 0.3% in the third quarter. Port Capital LLC now owns 659,913 shares of the bank’s stock worth $30,158,000 after acquiring an additional 1,850 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James reissued an “outperform” rating and issued a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. Piper Sandler boosted their price objective on shares of Glacier Bancorp from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Finally, Truist Financial boosted their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $52.00.

Glacier Bancorp Trading Down 0.5 %

Shares of GBCI stock opened at $51.35 on Friday. Glacier Bancorp, Inc. has a 52-week low of $34.35 and a 52-week high of $60.67. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 31.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a fifty day moving average of $53.32 and a 200-day moving average of $48.40.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping 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 in the prior year, the firm earned $0.47 EPS. On average, equities research analysts forecast that Glacier Bancorp, Inc. will post 1.73 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio is currently 81.48%.

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.