M&T Bank Corp Raises Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

M&T Bank Corp grew its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 110,752 shares of the bank’s stock after buying an additional 2,939 shares during the quarter. M&T Bank Corp owned 0.10% of Glacier Bancorp worth $5,062,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GBCI. SG Americas Securities LLC lifted its stake in Glacier Bancorp by 77.6% in 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. Blue Trust Inc. lifted its position in shares of Glacier Bancorp by 20,598.6% during the 2nd quarter. Blue Trust Inc. now owns 14,903 shares of the bank’s stock worth $600,000 after purchasing an additional 14,831 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in Glacier Bancorp in the second quarter valued at $370,000. Nisa Investment Advisors LLC raised its stake in Glacier Bancorp by 230.3% in the second quarter. Nisa Investment Advisors LLC now owns 7,630 shares of the bank’s stock valued at $285,000 after buying an additional 5,320 shares in the last quarter. Finally, &PARTNERS raised its stake in Glacier Bancorp by 134.1% in the second quarter. &PARTNERS now owns 57,563 shares of the bank’s stock valued at $2,148,000 after buying an additional 32,969 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 1.4 %

GBCI opened at $55.30 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 34.47 and a beta of 0.79. The business’s 50 day moving average is $52.92 and its two-hundred day moving average is $45.37. Glacier Bancorp, Inc. has a 52 week low of $34.35 and a 52 week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly 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. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The firm had revenue of $324.28 million during the quarter, compared to analysts’ expectations of $212.57 million. During the same quarter in the prior year, the business earned $0.47 EPS. On average, research analysts predict that Glacier Bancorp, Inc. will post 1.7 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio is currently 81.48%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GBCI. Keefe, Bruyette & Woods increased their price objective on Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Truist Financial upped their price target on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th. Piper Sandler raised their price objective 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. Finally, Raymond James boosted 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Glacier Bancorp currently has a consensus rating of “Hold” and a consensus price target of $48.83.

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.