Oppenheimer Asset Management Inc. Buys 3,226 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Posted by Defense World Staff on Aug 27th, 2023

Oppenheimer Asset Management Inc. grew its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI – Free Report) by 16.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,096 shares of the bank’s stock after purchasing an additional 3,226 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Glacier Bancorp were worth $970,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Captrust Financial Advisors grew its position in Glacier Bancorp by 3.3% in the 4th quarter. Captrust Financial Advisors now owns 8,427 shares of the bank’s stock valued at $416,000 after acquiring an additional 269 shares during the last quarter. US Bancorp DE lifted its position in shares of Glacier Bancorp by 2.9% during the first quarter. US Bancorp DE now owns 11,115 shares of the bank’s stock worth $559,000 after purchasing an additional 308 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of Glacier Bancorp by 1.7% during the fourth quarter. Benjamin Edwards Inc. now owns 18,313 shares of the bank’s stock worth $905,000 after purchasing an additional 314 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Glacier Bancorp by 10.8% during the fourth quarter. Van ECK Associates Corp now owns 3,350 shares of the bank’s stock worth $166,000 after purchasing an additional 327 shares during the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Glacier Bancorp by 1.6% during the fourth quarter. Synovus Financial Corp now owns 22,294 shares of the bank’s stock worth $1,102,000 after purchasing an additional 344 shares during the last quarter. 74.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

GBCI has been the topic of several research analyst reports. Truist Financial cut Glacier Bancorp from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a research note on Monday, July 24th. Raymond James increased their price objective on Glacier Bancorp from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, August 10th. Piper Sandler dropped their price objective on Glacier Bancorp from $34.00 to $31.00 in a research note on Monday, July 24th. Stephens reissued an “equal weight” rating and issued a $31.00 price objective on shares of Glacier Bancorp in a research note on Friday, July 21st. Finally, DA Davidson boosted their price target on shares of Glacier Bancorp from $37.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $34.20.

View Our Latest Stock Report on Glacier Bancorp

Glacier Bancorp Price Performance

Shares of GBCI stock opened at $29.86 on Friday. Glacier Bancorp, Inc. has a 1-year low of $26.77 and a 1-year high of $59.70. The stock’s 50-day moving average is $32.08 and its 200 day moving average is $35.90. The company has a market cap of $3.31 billion, a P/E ratio of 11.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.70 and a quick ratio of 0.70.

Glacier Bancorp (NASDAQ:GBCI – Get Free Report) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. Glacier Bancorp had a return on equity of 9.60% and a net margin of 26.60%. The company had revenue of $201.06 million for the quarter, compared to the consensus estimate of $208.43 million. Research analysts predict that Glacier Bancorp, Inc. will post 1.84 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Tuesday, July 11th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Monday, July 10th. Glacier Bancorp’s payout ratio is presently 53.01%.

About Glacier Bancorp

(Free Report)

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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposit, negotiated-rate jumbo certificates, and individual retirement accounts.