Stockman Wealth Management Inc. Takes Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Stockman Wealth Management Inc. bought a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 4,885 shares of the bank’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GBCI. Cooke & Bieler LP lifted its position in Glacier Bancorp by 34.0% during the 4th quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock worth $133,847,000 after acquiring an additional 821,199 shares during the period. Envestnet Asset Management Inc. lifted its position in Glacier Bancorp by 361.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 902,610 shares of the bank’s stock worth $25,724,000 after acquiring an additional 706,833 shares during the period. FMR LLC lifted its position in Glacier Bancorp by 50.1% during the 3rd quarter. FMR LLC now owns 1,360,803 shares of the bank’s stock worth $38,783,000 after acquiring an additional 454,289 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Glacier Bancorp by 30.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,024,466 shares of the bank’s stock valued at $29,197,000 after buying an additional 239,168 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Glacier Bancorp by 12.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,310,453 shares of the bank’s stock valued at $37,348,000 after buying an additional 141,127 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GBCI has been the subject of several analyst reports. Truist Financial decreased their price objective on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a report on Monday. Stephens reduced their price target on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday. StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. DA Davidson reduced their price target on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday. Finally, Raymond James upped their price target on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.40.

Glacier Bancorp Stock Performance

Shares of GBCI stock traded up $0.90 during mid-day trading on Tuesday, hitting $38.59. 170,631 shares of the stock were exchanged, compared to its average volume of 759,117. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. Glacier Bancorp, Inc. has a 12-month low of $26.77 and a 12-month high of $44.06. The stock’s fifty day simple moving average is $37.80 and its two-hundred day simple moving average is $36.76. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 21.87 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The company had revenue of $196.47 million for the quarter, compared to analysts’ expectations of $202.66 million. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 EPS. On average, analysts forecast that Glacier Bancorp, Inc. will post 1.82 EPS for the current year.

Glacier Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.42%. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

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.