Iron Gate Global Advisors LLC Cuts Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Iron Gate Global Advisors LLC reduced its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 41.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,730 shares of the bank’s stock after selling 3,300 shares during the quarter. Iron Gate Global Advisors LLC’s holdings in Glacier Bancorp were worth $216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Glacier Bancorp by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,611,345 shares of the bank’s stock valued at $97,450,000 after purchasing an additional 103,374 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Glacier Bancorp by 19.8% in the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after purchasing an additional 280,255 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Glacier Bancorp by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock worth $74,402,000 after acquiring an additional 49,006 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Glacier Bancorp by 0.4% during the third quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock valued at $70,134,000 after acquiring an additional 6,394 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Glacier Bancorp by 9.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,125,955 shares of the bank’s stock worth $42,021,000 after acquiring an additional 99,811 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Up 0.3 %

GBCI opened at $58.04 on Tuesday. Glacier Bancorp, Inc. has a 12 month low of $34.35 and a 12 month high of $60.67. 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 stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 35.83 and a beta of 0.79. The business has a fifty day moving average price of $51.28 and a 200 day moving average price of $44.53.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same period in the prior year, the firm earned $0.47 EPS. Sell-side analysts expect that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 10th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a yield of 2.27%. Glacier Bancorp’s payout ratio is currently 81.48%.

Analyst Ratings Changes

A number of brokerages have commented on GBCI. Piper Sandler increased 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. Raymond James raised their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Truist Financial lifted their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.20.

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.