LMR Partners LLP Invests $543,000 in Glacier Bancorp, Inc. (NASDAQ:GBCI)

LMR Partners LLP bought a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,884 shares of the bank’s stock, valued at approximately $543,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Glacier Bancorp during the first quarter worth about $25,000. International Assets Investment Management LLC acquired a new stake in shares of Glacier Bancorp in the second quarter valued at about $25,000. GAMMA Investing LLC raised its holdings in shares of Glacier Bancorp by 96.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after buying an additional 772 shares during the period. Venturi Wealth Management LLC lifted its position in Glacier Bancorp by 44.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after acquiring an additional 927 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Glacier Bancorp in the 1st quarter worth approximately $216,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Trading Down 1.1 %

GBCI opened at $55.85 on Wednesday. The stock has a market capitalization of $6.33 billion, a PE ratio of 34.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. Glacier Bancorp, Inc. has a 12-month low of $32.00 and a 12-month high of $59.19. The firm’s fifty day moving average price is $48.94 and its 200 day moving average price is $43.31.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same quarter in the prior year, the business posted $0.47 EPS. As a group, research analysts expect that Glacier Bancorp, Inc. will post 1.67 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.36%. Glacier Bancorp’s payout ratio is 81.48%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GBCI. Raymond James lifted their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Truist Financial boosted their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, Piper Sandler raised their target price on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. 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. According to MarketBeat, Glacier Bancorp presently has an average rating of “Hold” and a consensus target price of $46.20.

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.