NFJ Investment Group LLC Trims Stock Position in Glacier Bancorp, Inc. $GBCI

NFJ Investment Group LLC lowered its holdings in shares of Glacier Bancorp, Inc. (NYSE:GBCI) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,189,006 shares of the company’s stock after selling 40,226 shares during the quarter. Glacier Bancorp makes up approximately 1.9% of NFJ Investment Group LLC’s holdings, making the stock its 11th biggest position. NFJ Investment Group LLC owned about 0.92% of Glacier Bancorp worth $52,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC increased its position in shares of Glacier Bancorp by 15.0% during the 3rd quarter. Natixis Advisors LLC now owns 562,404 shares of the company’s stock valued at $27,372,000 after purchasing an additional 73,545 shares during the last quarter. CENTRAL TRUST Co bought a new position in shares of Glacier Bancorp during the 3rd quarter valued at approximately $594,000. Capital International Investors grew its stake in shares of Glacier Bancorp by 17.1% during the 3rd quarter. Capital International Investors now owns 1,742,780 shares of the company’s stock valued at $84,821,000 after acquiring an additional 254,514 shares during the period. American National Bank & Trust bought a new position in shares of Glacier Bancorp during the 4th quarter valued at approximately $4,821,000. Finally, Deprince Race & Zollo Inc. grew its stake in shares of Glacier Bancorp by 30.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company’s stock valued at $73,229,000 after acquiring an additional 390,366 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

GBCI stock opened at $49.94 on Friday. Glacier Bancorp, Inc. has a one year low of $39.90 and a one year high of $53.99. The company’s fifty day moving average price is $47.78 and its 200-day moving average price is $46.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $6.50 billion, a PE ratio of 23.34 and a beta of 0.74.

Glacier Bancorp (NYSE:GBCI) last released its earnings results on Thursday, April 23rd. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. The firm had revenue of $309.61 million for the quarter. During the same period last year, the firm posted $0.48 EPS. On average, equities analysts anticipate that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Tuesday, April 7th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, April 7th. Glacier Bancorp’s dividend payout ratio is currently 61.68%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Piper Sandler boosted their price objective on Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings upgraded Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. DA Davidson boosted their price objective on Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Stephens boosted their price objective on Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and a consensus price target of $55.17.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.