Victory Capital Management Inc. Trims Stock Position in Glacier Bancorp, Inc. $GBCI

Victory Capital Management Inc. trimmed its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,345,740 shares of the bank’s stock after selling 61,679 shares during the period. Victory Capital Management Inc.’s holdings in Glacier Bancorp were worth $65,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of GBCI. Davidson Trust Co. purchased a new stake in Glacier Bancorp in the 3rd quarter worth approximately $3,478,000. CENTRAL TRUST Co purchased a new position in shares of Glacier Bancorp during the 3rd quarter valued at $594,000. TrueMark Investments LLC bought a new position in Glacier Bancorp in the 3rd quarter worth $3,229,000. Voya Investment Management LLC increased its stake in Glacier Bancorp by 1,653.0% in the 3rd quarter. Voya Investment Management LLC now owns 540,871 shares of the bank’s stock worth $26,324,000 after buying an additional 510,017 shares in the last quarter. Finally, Idaho Trust Co bought a new position in shares of Glacier Bancorp in the second quarter worth about $14,663,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Janney Montgomery Scott started coverage on Glacier Bancorp in a research note on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 price target for the company. Keefe, Bruyette & Woods reissued an “underperform” rating on shares of Glacier Bancorp in a report on Monday, January 26th. Piper Sandler set a $59.00 price target on Glacier Bancorp and gave the company an “overweight” rating in a research note on Wednesday, February 11th. DA Davidson increased their target price on Glacier Bancorp from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Finally, Stephens set a $58.00 price target on shares of Glacier Bancorp in a research note on Monday, January 26th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.67.

Glacier Bancorp Stock Down 1.8%

Shares of NASDAQ:GBCI opened at $44.40 on Friday. The business’s 50 day moving average is $48.39 and its 200 day moving average is $46.45. The stock has a market cap of $5.77 billion, a P/E ratio of 26.59 and a beta of 0.75. Glacier Bancorp, Inc. has a 52-week low of $36.76 and a 52-week high of $53.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the prior year, the business posted $0.54 earnings per share. Sell-side analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.