Moors & Cabot Inc. Trims Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Moors & Cabot Inc. trimmed its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,971 shares of the bank’s stock after selling 1,540 shares during the period. Moors & Cabot Inc.’s holdings in Glacier Bancorp were worth $1,233,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GBCI. Pacer Advisors Inc. raised its holdings in Glacier Bancorp by 2.6% during the second quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank’s stock valued at $632,000 after acquiring an additional 427 shares during the period. Inspire Investing LLC grew its position in shares of Glacier Bancorp by 6.7% during the second quarter. Inspire Investing LLC now owns 9,472 shares of the bank’s stock worth $353,000 after purchasing an additional 593 shares in the last quarter. Hsbc Holdings PLC raised its stake in Glacier Bancorp by 7.6% during the 2nd quarter. Hsbc Holdings PLC now owns 8,498 shares of the bank’s stock valued at $317,000 after purchasing an additional 600 shares during the period. Allied Investment Advisors LLC boosted its stake in Glacier Bancorp by 4.5% in the 3rd quarter. Allied Investment Advisors LLC now owns 14,831 shares of the bank’s stock worth $678,000 after purchasing an additional 643 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Glacier Bancorp in the 2nd quarter worth approximately $25,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Glacier Bancorp stock opened at $57.39 on Friday. The company’s 50-day moving average price is $49.50 and its 200-day moving average price is $43.49. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The company has a market cap of $6.51 billion, a PE ratio of 35.43 and a beta of 0.77. Glacier Bancorp, Inc. has a twelve month low of $32.00 and a twelve month high of $59.19.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share 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 company had revenue of $324.28 million for the quarter, compared to analysts’ expectations of $212.57 million. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, equities research analysts forecast that Glacier Bancorp, Inc. will post 1.7 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.32 annualized dividend and a yield of 2.30%. Glacier Bancorp’s payout ratio is presently 81.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Raymond James boosted their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Truist Financial increased their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th. Finally, Piper Sandler lifted their target price on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Glacier Bancorp has a consensus rating of “Hold” and an average price target of $46.20.

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.