Snowden Capital Advisors LLC Sells 3,584 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Snowden Capital Advisors LLC lowered its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 20.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,702 shares of the bank’s stock after selling 3,584 shares during the period. Snowden Capital Advisors LLC’s holdings in Glacier Bancorp were worth $688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GBCI. Norges Bank bought a new position in Glacier Bancorp during the 4th quarter valued at about $56,923,000. Madison Investment Advisors LLC bought a new position in Glacier Bancorp during the 4th quarter valued at about $47,770,000. Millennium Management LLC lifted its stake in Glacier Bancorp by 4,600.1% during the 4th quarter. Millennium Management LLC now owns 936,079 shares of the bank’s stock valued at $47,010,000 after acquiring an additional 916,163 shares during the period. JPMorgan Chase & Co. lifted its stake in Glacier Bancorp by 76.0% during the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank’s stock valued at $28,192,000 after acquiring an additional 242,414 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Glacier Bancorp during the 4th quarter valued at about $9,544,000. Institutional investors own 80.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Raymond James set a $45.00 price target on shares of Glacier Bancorp in a research report on Monday, April 28th. Piper Sandler reduced their price target on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Keefe, Bruyette & Woods reduced their price target on shares of Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Finally, Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.50.

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $42.38 on Wednesday. Glacier Bancorp, Inc. has a 52 week low of $34.48 and a 52 week high of $60.67. The firm has a market capitalization of $4.81 billion, a P/E ratio of 25.38 and a beta of 0.79. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $41.97 and a 200-day moving average price of $48.34.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the prior year, the company earned $0.29 EPS. Equities research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.11%. Glacier Bancorp’s payout ratio is currently 70.97%.

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.