Hi Line Capital Management LLC Lowers Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Hi Line Capital Management LLC lessened its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 34.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,633 shares of the bank’s stock after selling 6,566 shares during the period. Glacier Bancorp makes up 0.3% of Hi Line Capital Management LLC’s portfolio, making the stock its 29th biggest position. Hi Line Capital Management LLC’s holdings in Glacier Bancorp were worth $577,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GBCI. Allspring Global Investments Holdings LLC purchased a new stake in Glacier Bancorp during the first quarter valued at about $25,000. International Assets Investment Management LLC purchased a new stake in Glacier Bancorp during the second quarter valued at about $25,000. Headlands Technologies LLC purchased a new stake in shares of Glacier Bancorp in the first quarter worth about $50,000. GAMMA Investing LLC boosted its position in shares of Glacier Bancorp by 96.9% in the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after buying an additional 772 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Glacier Bancorp in the second quarter worth about $207,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GBCI. Truist Financial upped their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday. Raymond James upped their target price on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler upped their target price on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and an average target price of $46.20.

Glacier Bancorp Trading Down 2.2 %

NASDAQ:GBCI opened at $52.16 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. Glacier Bancorp, Inc. has a one year low of $29.35 and a one year high of $53.93. The business’s 50-day simple moving average is $46.36 and its 200 day simple moving average is $41.52. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 32.91 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The business had revenue of $324.28 million for the quarter, compared to analysts’ expectations of $212.57 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. As a group, sell-side analysts predict that Glacier Bancorp, Inc. will post 1.65 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Tuesday, October 8th. Glacier Bancorp’s payout ratio is currently 81.48%.

About Glacier Bancorp

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.