Retirement Systems of Alabama Sells 2,203 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Retirement Systems of Alabama decreased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,747 shares of the bank’s stock after selling 2,203 shares during the quarter. Retirement Systems of Alabama’s holdings in Glacier Bancorp were worth $6,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Glacier Bancorp in the second quarter worth $25,000. GAMMA Investing LLC raised its holdings in Glacier Bancorp by 60.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,516 shares of the bank’s stock worth $115,000 after purchasing an additional 947 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Glacier Bancorp by 44.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after purchasing an additional 927 shares during the period. Wolverine Trading LLC bought a new stake in shares of Glacier Bancorp during the 3rd quarter valued at about $205,000. Finally, Intech Investment Management LLC purchased a new position in shares of Glacier Bancorp during the second quarter valued at about $207,000. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Trading Down 5.7 %

NASDAQ:GBCI opened at $49.99 on Thursday. The company has a market cap of $5.67 billion, a PE ratio of 30.86 and a beta of 0.79. 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 company has a 50 day simple moving average of $53.74 and a two-hundred day simple moving average of $45.94. Glacier Bancorp, Inc. has a 12 month low of $34.35 and a 12 month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 EPS 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 company had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. Research analysts forecast that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Raymond James increased their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted 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. Truist Financial increased 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. Finally, Piper Sandler upped their price objective on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.83.

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.