ExodusPoint Capital Management LP raised its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI – Free Report) by 25.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,407 shares of the bank’s stock after purchasing an additional 3,327 shares during the period. ExodusPoint Capital Management LP’s holdings in Glacier Bancorp were worth $689,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Dark Forest Capital Management LP raised its position in Glacier Bancorp by 163.6% during the 4th quarter. Dark Forest Capital Management LP now owns 746 shares of the bank’s stock worth $37,000 after purchasing an additional 463 shares during the last quarter. Parallel Advisors LLC raised its position in Glacier Bancorp by 124.9% during the 1st quarter. Parallel Advisors LLC now owns 785 shares of the bank’s stock worth $33,000 after purchasing an additional 436 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Glacier Bancorp during the 1st quarter worth $36,000. Covestor Ltd raised its position in Glacier Bancorp by 115.0% during the 1st quarter. Covestor Ltd now owns 1,045 shares of the bank’s stock worth $53,000 after purchasing an additional 559 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new position in shares of Glacier Bancorp in the 4th quarter worth about $62,000. 76.91% of the stock is owned by institutional investors.
Analyst Ratings Changes
GBCI has been the subject of several research analyst reports. Truist Financial lowered Glacier Bancorp from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research report on Monday, July 24th. Raymond James lifted their price objective on Glacier Bancorp from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. Piper Sandler lowered their price objective on Glacier Bancorp from $34.00 to $31.00 in a research report on Monday, July 24th. DA Davidson lifted their price objective on Glacier Bancorp from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, Stephens reissued an “equal weight” rating and issued a $31.00 price objective on shares of Glacier Bancorp in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and a consensus price target of $34.20.
Glacier Bancorp Price Performance
GBCI stock opened at $29.09 on Thursday. The company has a market capitalization of $3.23 billion, a P/E ratio of 11.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 0.70. Glacier Bancorp, Inc. has a 52-week low of $26.77 and a 52-week high of $59.70. The business has a 50-day simple moving average of $31.83 and a two-hundred day simple moving average of $34.97.
Glacier Bancorp (NASDAQ:GBCI – Get Free Report) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $201.06 million during the quarter, compared to the consensus estimate of $208.43 million. Glacier Bancorp had a return on equity of 9.60% and a net margin of 26.60%. Research analysts expect that Glacier Bancorp, Inc. will post 1.84 EPS for the current fiscal year.
Glacier Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Tuesday, July 11th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, July 10th. This represents a $1.32 dividend on an annualized basis and a yield of 4.54%. Glacier Bancorp’s dividend payout ratio (DPR) is currently 53.01%.
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. 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.
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