Capital Research Global Investors Sells 545,112 Shares of Glacier Bancorp, Inc. $GBCI

Capital Research Global Investors cut its holdings in Glacier Bancorp, Inc. (NYSE:GBCI) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,581,288 shares of the company’s stock after selling 545,112 shares during the quarter. Capital Research Global Investors’ holdings in Glacier Bancorp were worth $245,856,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GBCI. Norges Bank bought a new position in Glacier Bancorp in the fourth quarter valued at approximately $67,582,000. Vanguard Group Inc. boosted its stake in Glacier Bancorp by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock valued at $588,471,000 after acquiring an additional 870,335 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Glacier Bancorp in the second quarter valued at approximately $24,362,000. Bank of America Corp DE boosted its stake in Glacier Bancorp by 113.0% in the third quarter. Bank of America Corp DE now owns 872,117 shares of the company’s stock valued at $42,446,000 after acquiring an additional 462,711 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake in Glacier Bancorp by 30.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company’s stock valued at $73,229,000 after acquiring an additional 390,366 shares during the last quarter. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Trading Up 0.0%

Shares of NYSE:GBCI opened at $47.16 on Monday. Glacier Bancorp, Inc. has a 12 month low of $39.90 and a 12 month high of $53.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $47.37 and its 200 day simple moving average is $46.61. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 22.04 and a beta of 0.74.

Glacier Bancorp (NYSE:GBCI) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. The business had revenue of $309.61 million for the quarter. During the same quarter in the previous year, the business earned $0.48 earnings per share. As a group, research analysts forecast that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Tuesday, April 7th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, April 7th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 61.68%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GBCI. Wall Street Zen raised shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. DA Davidson raised their price objective on shares of Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Piper Sandler raised their price objective on shares of Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Finally, Stephens raised their price objective on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.17.

Glacier Bancorp Company 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.