Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by Davis Asset Management L.P.

Davis Asset Management L.P. decreased its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 51.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 386,749 shares of the bank’s stock after selling 402,604 shares during the quarter. Glacier Bancorp makes up approximately 0.6% of Davis Asset Management L.P.’s holdings, making the stock its 29th biggest holding. Davis Asset Management L.P.’s holdings in Glacier Bancorp were worth $15,980,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew its position in 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 last quarter. GAMMA Investing LLC bought a new position in Glacier Bancorp in the 4th quarter worth about $25,000. FNY Investment Advisers LLC bought a new position in Glacier Bancorp in the 4th quarter worth about $28,000. Selway Asset Management bought a new position in Glacier Bancorp in the 3rd quarter worth about $47,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Glacier Bancorp by 14.5% in the third 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 in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

GBCI stock traded up $0.75 on Thursday, hitting $37.65. 420,585 shares of the company’s stock traded hands, compared to its average volume of 743,369. Glacier Bancorp, Inc. has a 1-year low of $26.77 and a 1-year high of $44.06. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 21.51 and a beta of 0.81. The stock has a fifty day moving average of $37.84 and a 200-day moving average of $37.06. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Wednesday, April 24th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The business had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts forecast that Glacier Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio is 75.43%.

Analyst Ratings Changes

Several research firms have recently issued reports on GBCI. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. DA Davidson decreased their price objective on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Stephens decreased their price objective on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. Truist Financial decreased their price objective on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Finally, Raymond James increased their price objective on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.