Equitable Trust Co. Cuts Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Equitable Trust Co. reduced its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 20.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,079 shares of the bank’s stock after selling 1,869 shares during the period. Equitable Trust Co.’s holdings in Glacier Bancorp were worth $356,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Glacier Bancorp by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock worth $132,662,000 after purchasing an additional 41,160 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Glacier Bancorp by 19.8% during the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after buying an additional 280,255 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Glacier Bancorp by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock worth $74,402,000 after buying an additional 49,006 shares in the last quarter. Victory Capital Management Inc. raised its position in Glacier Bancorp by 0.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock worth $70,134,000 after buying an additional 6,394 shares during the last quarter. Finally, Port Capital LLC lifted its stake in Glacier Bancorp by 0.3% during the 3rd quarter. Port Capital LLC now owns 659,913 shares of the bank’s stock valued at $30,158,000 after acquiring an additional 1,850 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Trading Up 1.6 %

Shares of Glacier Bancorp stock opened at $51.13 on Wednesday. Glacier Bancorp, Inc. has a 1-year low of $34.35 and a 1-year high of $60.67. The company’s fifty day simple moving average is $51.40 and its 200-day simple moving average is $49.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $5.80 billion, a PE ratio of 30.62 and a beta of 0.80.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 10th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.32 annualized dividend and a yield of 2.58%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 79.04%.

Wall Street Analyst Weigh In

GBCI has been the subject of a number of research analyst reports. Truist Financial lifted their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods lifted their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler decreased their target price on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Raymond James restated an “outperform” rating and issued a $55.00 price target (up from $52.00) on shares of Glacier Bancorp in a research note on Wednesday, January 15th. Finally, Stephens upgraded Glacier Bancorp from an “equal weight” rating to an “overweight” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and an average target price of $51.50.

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.