Cercano Management LLC Makes New $13.11 Million Investment in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Cercano Management LLC purchased a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 317,338 shares of the bank’s stock, valued at approximately $13,112,000.

Other institutional investors have also bought and sold shares of the company. Allworth Financial LP boosted its holdings in shares of Glacier Bancorp by 409.4% during the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after purchasing an additional 479 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Glacier Bancorp in the 4th quarter valued at about $25,000. FNY Investment Advisers LLC bought a new position in shares of Glacier Bancorp in the 4th quarter valued at about $28,000. Selway Asset Management bought a new position in shares of Glacier Bancorp in the 3rd quarter valued at about $47,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Glacier Bancorp by 14.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock valued at $93,000 after acquiring an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on GBCI shares. Stephens lowered their price target on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. DA Davidson lowered their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Truist Financial lowered their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Raymond James increased their price objective on shares of Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Finally, StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Trading Down 0.7 %

Glacier Bancorp stock traded down $0.28 during midday trading on Friday, reaching $37.12. The stock had a trading volume of 373,490 shares, compared to its average volume of 626,117. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. Glacier Bancorp, Inc. has a 52-week low of $26.77 and a 52-week high of $44.06. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 21.21 and a beta of 0.80. The company has a fifty day moving average of $37.88 and a 200 day moving average of $36.93.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Wednesday, April 24th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The company had revenue of $196.47 million for the quarter, compared to analysts’ expectations of $202.66 million. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. On average, analysts anticipate that Glacier Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, April 8th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.56%. Glacier Bancorp’s dividend payout ratio (DPR) is 75.43%.

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.