Axxcess Wealth Management LLC Invests $493,000 in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Axxcess Wealth Management LLC acquired a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,942 shares of the bank’s stock, valued at approximately $493,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Allworth Financial LP lifted its position in shares of Glacier Bancorp by 409.4% in the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after purchasing an additional 479 shares during the period. GAMMA Investing LLC purchased a new stake in Glacier Bancorp during the fourth quarter worth $25,000. FNY Investment Advisers LLC bought a new stake in Glacier Bancorp during the 4th quarter valued at $28,000. Selway Asset Management purchased a new position in shares of Glacier Bancorp in the 3rd quarter valued at $47,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Glacier Bancorp by 14.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock valued at $93,000 after acquiring an additional 413 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $38.16 on Wednesday. The firm has a market capitalization of $4.33 billion, a P/E ratio of 21.81 and a beta of 0.81. Glacier Bancorp, Inc. has a 52 week low of $26.77 and a 52 week high of $44.06. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average price of $37.97 and a 200 day moving average price of $37.31.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 earnings per share 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 net margin of 16.40% and a return on equity of 6.51%. Glacier Bancorp’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.55 earnings per share. Sell-side analysts expect that Glacier Bancorp, Inc. will post 1.68 EPS for the current year.

Glacier Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.46%. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

Analyst Upgrades and Downgrades

GBCI has been the topic of several analyst reports. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. Truist Financial decreased their target price on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Stephens lowered their target price on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 23rd. Finally, DA Davidson reduced their price target on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Glacier Bancorp has a consensus rating of “Hold” and an average target price of $40.40.

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.