Hedges Asset Management LLC Sells 11,600 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Hedges Asset Management LLC decreased its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,223 shares of the bank’s stock after selling 11,600 shares during the period. Glacier Bancorp accounts for about 9.5% of Hedges Asset Management LLC’s investment portfolio, making the stock its largest holding. Hedges Asset Management LLC owned 0.25% of Glacier Bancorp worth $14,324,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in shares of Glacier Bancorp by 19.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock worth $77,435,000 after purchasing an additional 280,255 shares in the last quarter. Millennium Management LLC grew its position in Glacier Bancorp by 131.9% in the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock worth $17,807,000 after buying an additional 271,398 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Glacier Bancorp by 123.9% in the second quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock valued at $12,393,000 after buying an additional 183,757 shares in the last quarter. Pier Capital LLC acquired a new stake in shares of Glacier Bancorp during the 3rd quarter valued at $7,443,000. Finally, Clifford Capital Partners LLC boosted its stake in shares of Glacier Bancorp by 40.9% during the 2nd quarter. Clifford Capital Partners LLC now owns 422,951 shares of the bank’s stock worth $15,785,000 after acquiring an additional 122,842 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $51.35 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 31.70 and a beta of 0.81. The company has a 50 day simple moving average of $53.32 and a 200-day simple moving average of $48.40. Glacier Bancorp, Inc. has a 52-week low of $34.35 and a 52-week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The company had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same quarter in the prior year, the firm earned $0.47 EPS. Equities research analysts predict that Glacier Bancorp, Inc. will post 1.73 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 10th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.57%. Glacier Bancorp’s dividend payout ratio is 81.48%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GBCI. Piper Sandler boosted their target price on Glacier Bancorp from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Raymond James restated an “outperform” rating and set a $55.00 price objective (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Keefe, Bruyette & Woods raised their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Truist Financial boosted their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Glacier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $52.00.

Glacier Bancorp Company 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.