Oppenheimer Asset Management Inc. Cuts Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Oppenheimer Asset Management Inc. lowered its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,280 shares of the bank’s stock after selling 1,130 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Glacier Bancorp were worth $820,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Quest Capital Management Inc. ADV purchased a new stake in Glacier Bancorp during the 3rd quarter worth approximately $31,000. Benjamin Edwards Inc. grew its position in Glacier Bancorp by 27.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 2,602 shares of the bank’s stock worth $106,000 after purchasing an additional 565 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Glacier Bancorp during the 2nd quarter worth approximately $120,000. TRUE Private Wealth Advisors purchased a new stake in Glacier Bancorp during the 2nd quarter worth approximately $202,000. Finally, Northwest Quadrant Wealth Management LLC purchased a new stake in Glacier Bancorp during the 3rd quarter worth approximately $205,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ GBCI opened at $44.16 on Friday. Glacier Bancorp, Inc. has a 12 month low of $36.84 and a 12 month high of $47.67. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 20.35 and a beta of 1.16. The company has a 50 day simple moving average of $41.42 and a two-hundred day simple moving average of $40.62. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.08.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 17th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.02). Glacier Bancorp had a return on equity of 12.65% and a net margin of 30.85%. The business had revenue of $174.50 million for the quarter, compared to analysts’ expectations of $157.11 million. Analysts forecast that Glacier Bancorp, Inc. will post 2.43 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, October 8th were issued a $0.29 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.63%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.27. Glacier Bancorp’s dividend payout ratio is currently 53.46%.

Several research firms have weighed in on GBCI. BidaskClub raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, October 5th. Zacks Investment Research downgraded shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. ValuEngine downgraded shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Stephens set a $40.00 price objective on shares of Glacier Bancorp and gave the company a “hold” rating in a research note on Thursday, October 17th. Finally, SunTrust Banks decreased their price objective on shares of Glacier Bancorp from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $41.67.

Glacier Bancorp Profile

Glacier Bancorp, Inc operates as the 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 deposits, negotiated-rate jumbo certificates, and individual retirement accounts.

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Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

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