GW&K Investment Management LLC Has $56 Million Stock Position in Glacier Bancorp, Inc. $GBCI

GW&K Investment Management LLC lessened its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,150,558 shares of the bank’s stock after selling 94,709 shares during the quarter. GW&K Investment Management LLC’s holdings in Glacier Bancorp were worth $55,998,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GBCI. Segall Bryant & Hamill LLC lifted its position in shares of Glacier Bancorp by 4.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,173,967 shares of the bank’s stock valued at $57,137,000 after buying an additional 52,338 shares during the last quarter. Royce & Associates LP lifted its holdings in Glacier Bancorp by 11.7% during the 3rd quarter. Royce & Associates LP now owns 381,398 shares of the bank’s stock valued at $18,563,000 after purchasing an additional 39,997 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in Glacier Bancorp by 29.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 139,078 shares of the bank’s stock valued at $6,769,000 after purchasing an additional 32,048 shares during the last quarter. Xponance Inc. boosted its position in Glacier Bancorp by 2.5% during the third quarter. Xponance Inc. now owns 16,872 shares of the bank’s stock worth $821,000 after purchasing an additional 418 shares during the period. Finally, Synovus Financial Corp increased its holdings in shares of Glacier Bancorp by 9.3% in the third quarter. Synovus Financial Corp now owns 30,191 shares of the bank’s stock valued at $1,469,000 after purchasing an additional 2,569 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Glacier Bancorp Trading Up 0.3%

Shares of GBCI stock opened at $45.27 on Thursday. 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, 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 50 day simple moving average of $48.42 and a 200 day simple moving average of $46.47.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business posted $0.54 EPS. On average, research analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

About Glacier Bancorp

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.