Victory Capital Management Inc. Sells 61,679 Shares of Glacier Bancorp, Inc. $GBCI

Victory Capital Management Inc. cut its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,345,740 shares of the bank’s stock after selling 61,679 shares during the quarter. Victory Capital Management Inc. owned approximately 1.04% of Glacier Bancorp worth $65,497,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Segall Bryant & Hamill LLC lifted its holdings in 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 period. Royce & Associates LP boosted its position in shares of Glacier Bancorp by 11.7% during the 3rd quarter. Royce & Associates LP now owns 381,398 shares of the bank’s stock worth $18,563,000 after purchasing an additional 39,997 shares in the last quarter. Rafferty Asset Management LLC increased its position in Glacier Bancorp by 29.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 139,078 shares of the bank’s stock valued at $6,769,000 after buying an additional 32,048 shares in the last quarter. Xponance Inc. boosted its holdings in Glacier Bancorp by 2.5% in the third quarter. Xponance Inc. now owns 16,872 shares of the bank’s stock worth $821,000 after acquiring an additional 418 shares in the last quarter. Finally, Synovus Financial Corp grew its stake in 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 acquiring an additional 2,569 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Glacier Bancorp Stock Performance

Shares of GBCI opened at $44.40 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 26.59 and a beta of 0.75. Glacier Bancorp, Inc. has a 52-week low of $36.76 and a 52-week high of $53.99. The stock’s 50-day simple moving average is $48.39 and its 200 day simple moving average is $46.45.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the previous year, the firm posted $0.54 EPS. Research analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS 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.