Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 23.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 259,702 shares of the bank’s stock after selling 80,180 shares during the quarter. Bank of America Corp DE’s holdings in Glacier Bancorp were worth $13,042,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC raised its holdings in shares of Glacier Bancorp by 5.3% in the fourth quarter. Signaturefd LLC now owns 3,978 shares of the bank’s stock worth $200,000 after acquiring an additional 201 shares during the last quarter. Piedmont Capital Management LLC raised its holdings in shares of Glacier Bancorp by 4.5% in the fourth quarter. Piedmont Capital Management LLC now owns 5,256 shares of the bank’s stock worth $262,000 after acquiring an additional 224 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Glacier Bancorp by 0.8% in the fourth quarter. Arizona State Retirement System now owns 32,909 shares of the bank’s stock worth $1,653,000 after acquiring an additional 259 shares during the last quarter. Mariner LLC raised its holdings in shares of Glacier Bancorp by 2.4% in the fourth quarter. Mariner LLC now owns 12,430 shares of the bank’s stock worth $624,000 after acquiring an additional 292 shares during the last quarter. Finally, Financial Advocates Investment Management raised its holdings in shares of Glacier Bancorp by 1.9% in the fourth quarter. Financial Advocates Investment Management now owns 16,267 shares of the bank’s stock worth $817,000 after acquiring an additional 311 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on GBCI. Raymond James set a $45.00 price target on Glacier Bancorp in a report on Monday, April 28th. Keefe, Bruyette & Woods cut their price target on Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Piper Sandler lowered their price objective on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Glacier Bancorp presently has a consensus rating of “Hold” and an average target price of $50.50.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $41.19 on Friday. The company has a market cap of $4.68 billion, a P/E ratio of 24.66 and a beta of 0.79. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a 52 week low of $34.48 and a 52 week high of $60.67. The business has a fifty day simple moving average of $41.81 and a 200-day simple moving average of $48.22.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Monday, April 28th. The bank reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same period in the prior year, the company earned $0.29 earnings per share. Equities research analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.20%. Glacier Bancorp’s dividend payout ratio is presently 70.97%.

Glacier Bancorp Company 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.