Cladis Investment Advisory LLC Buys 500 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Cladis Investment Advisory LLC lifted its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,698 shares of the bank’s stock after purchasing an additional 500 shares during the quarter. Glacier Bancorp comprises about 1.0% of Cladis Investment Advisory LLC’s investment portfolio, making the stock its 28th biggest position. Cladis Investment Advisory LLC’s holdings in Glacier Bancorp were worth $1,494,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GBCI. Price T Rowe Associates Inc. MD raised its stake in Glacier Bancorp by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 81,150 shares of the bank’s stock valued at $3,269,000 after purchasing an additional 4,069 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Glacier Bancorp by 34.9% in the 1st quarter. Cetera Advisors LLC now owns 12,596 shares of the bank’s stock valued at $507,000 after acquiring an additional 3,256 shares during the last quarter. GAMMA Investing LLC grew its position in Glacier Bancorp by 96.9% in the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after acquiring an additional 772 shares in the last quarter. SG Americas Securities LLC increased its stake in Glacier Bancorp by 77.6% during the second quarter. SG Americas Securities LLC now owns 9,510 shares of the bank’s stock worth $355,000 after acquiring an additional 4,156 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Glacier Bancorp by 20,598.6% during the second quarter. Blue Trust Inc. now owns 14,903 shares of the bank’s stock valued at $600,000 after purchasing an additional 14,831 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GBCI. Truist Financial lifted their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Raymond James boosted their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler raised their target price on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. One equities research 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.20.

Glacier Bancorp Price Performance

Shares of GBCI stock opened at $57.89 on Monday. The stock has a 50 day moving average price of $51.04 and a 200 day moving average price of $44.39. Glacier Bancorp, Inc. has a 52-week low of $33.23 and a 52-week high of $60.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $6.56 billion, a P/E ratio of 35.73 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same quarter last year, the firm posted $0.47 earnings per share. As a group, sell-side analysts predict that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.32 annualized dividend and a yield of 2.28%. Glacier Bancorp’s dividend payout ratio (DPR) is 81.48%.

Glacier Bancorp 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.