Glacier Bancorp, Inc. (NASDAQ:GBCI) Stake Boosted by Argent Capital Management LLC

Argent Capital Management LLC increased its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 38.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,411 shares of the bank’s stock after buying an additional 4,853 shares during the quarter. Argent Capital Management LLC’s holdings in Glacier Bancorp were worth $874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Glacier Bancorp by 60.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,516 shares of the bank’s stock valued at $115,000 after purchasing an additional 947 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Glacier Bancorp by 44.8% in the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock valued at $137,000 after purchasing an additional 927 shares in the last quarter. Wolverine Trading LLC acquired a new position in shares of Glacier Bancorp in the third quarter worth $205,000. Intech Investment Management LLC acquired a new position in shares of Glacier Bancorp in the second quarter worth $207,000. Finally, Paloma Partners Management Co acquired a new position in shares of Glacier Bancorp in the third quarter worth $250,000. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Stock Performance

NASDAQ:GBCI opened at $50.87 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $5.77 billion, a P/E ratio of 29.44 and a beta of 0.81. The firm has a 50 day moving average of $54.03 and a 200-day moving average of $47.88. Glacier Bancorp, Inc. has a 1 year low of $34.35 and a 1 year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The business had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. During the same quarter last year, the business posted $0.47 earnings per share. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 1.73 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio is presently 81.48%.

Analysts Set New Price Targets

Several equities analysts have commented on GBCI shares. Keefe, Bruyette & Woods increased their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Truist Financial increased their target price on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Piper Sandler increased their target price on shares of Glacier Bancorp from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Raymond James restated an “outperform” rating and set a $55.00 price target (up previously from $52.00) on shares of Glacier Bancorp in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.00.

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.