Victory Capital Management Inc. Buys 6,394 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Victory Capital Management Inc. boosted its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,534,667 shares of the bank’s stock after purchasing an additional 6,394 shares during the quarter. Victory Capital Management Inc. owned about 1.35% of Glacier Bancorp worth $70,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in Glacier Bancorp during the first quarter valued at approximately $25,000. International Assets Investment Management LLC bought a new position in shares of Glacier Bancorp during the 2nd quarter valued at $25,000. Headlands Technologies LLC purchased a new position in Glacier Bancorp in the 1st quarter worth $50,000. GAMMA Investing LLC raised its position in Glacier Bancorp by 96.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after purchasing an additional 772 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in Glacier Bancorp by 44.8% in the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after purchasing an additional 927 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Trading Down 1.2 %

NASDAQ GBCI opened at $56.28 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. Glacier Bancorp, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $59.19. The stock has a market cap of $6.38 billion, a P/E ratio of 34.74 and a beta of 0.77. The stock has a 50 day simple moving average of $47.91 and a two-hundred day simple moving average of $42.73.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The business had revenue of $324.28 million for the quarter, compared to analysts’ expectations of $212.57 million. During the same quarter in the previous year, the business posted $0.47 earnings per share. On average, analysts forecast that Glacier Bancorp, Inc. will post 1.67 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, October 8th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Tuesday, October 8th. Glacier Bancorp’s payout ratio is currently 81.48%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial lifted their price objective on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Piper Sandler lifted their price target on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Raymond James boosted their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Glacier Bancorp has a consensus rating of “Hold” and a consensus price target of $46.20.

About Glacier Bancorp

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.