Financial Advocates Investment Management Lowers Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Financial Advocates Investment Management decreased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 23.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,956 shares of the bank’s stock after selling 4,977 shares during the period. Financial Advocates Investment Management’s holdings in Glacier Bancorp were worth $729,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Glacier Bancorp in the 1st quarter valued at about $25,000. International Assets Investment Management LLC acquired a new position in shares of Glacier Bancorp during the 2nd quarter worth approximately $25,000. Headlands Technologies LLC acquired a new position in shares of Glacier Bancorp during the 1st quarter worth approximately $50,000. GAMMA Investing LLC lifted its position in shares of Glacier Bancorp by 96.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after buying an additional 772 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Glacier Bancorp in the 2nd quarter valued at $207,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

GBCI opened at $51.63 on Friday. Glacier Bancorp, Inc. has a twelve month low of $30.18 and a twelve month high of $53.93. The firm has a market capitalization of $5.85 billion, a PE ratio of 31.87 and a beta of 0.80. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $46.45 and its 200 day moving average price is $41.63.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The business had revenue of $324.28 million for the quarter, compared to analysts’ expectations of $212.57 million. During the same period in the previous year, the firm posted $0.47 EPS. As a group, sell-side analysts expect that Glacier Bancorp, Inc. will post 1.65 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%.

Analyst Ratings Changes

GBCI has been the subject of a number of research analyst reports. Raymond James upped their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Piper Sandler upped their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Truist Financial lifted their price objective on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.20.

About Glacier Bancorp

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.