Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,857 shares of the bank’s stock after selling 2,517 shares during the period. MetLife Investment Management LLC owned about 0.11% of Glacier Bancorp worth $5,523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans raised its holdings in Glacier Bancorp by 19.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock worth $77,435,000 after buying an additional 280,255 shares during the period. Millennium Management LLC lifted its position in shares of Glacier Bancorp by 131.9% in the 2nd quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after acquiring an additional 271,398 shares in the last quarter. Sei Investments Co. boosted its stake in Glacier Bancorp by 123.9% in the 2nd quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock worth $12,393,000 after purchasing an additional 183,757 shares during the period. Ceredex Value Advisors LLC grew its position in Glacier Bancorp by 145.0% during the 2nd quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock worth $11,513,000 after purchasing an additional 182,600 shares in the last quarter. Finally, Natixis Advisors LLC raised its stake in Glacier Bancorp by 187.1% during the 2nd quarter. Natixis Advisors LLC now owns 253,014 shares of the bank’s stock valued at $9,442,000 after purchasing an additional 164,897 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GBCI shares. Truist Financial lifted their price target on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th. Piper Sandler lifted 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. Finally, Raymond James raised their price target 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Glacier Bancorp presently has an average rating of “Hold” and an average target price of $46.20.

Glacier Bancorp Stock Down 0.9 %

GBCI opened at $57.89 on Friday. The company has a market capitalization of $6.56 billion, a PE ratio of 35.73 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 fifty-two week low of $33.23 and a fifty-two week high of $60.67. The business has a 50-day moving average of $51.04 and a 200-day moving average of $44.36.

Glacier Bancorp (NASDAQ:GBCI) last posted 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. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The firm had revenue of $324.28 million during the quarter, compared to analysts’ expectations of $212.57 million. During the same period in the previous year, the company earned $0.47 earnings per share. Equities research analysts forecast that Glacier Bancorp, Inc. will post 1.7 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.28%. The ex-dividend date is Tuesday, December 10th. Glacier Bancorp’s payout ratio is 81.48%.

Glacier Bancorp 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.