Thrivent Financial for Lutherans Boosts Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Thrivent Financial for Lutherans increased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,694,409 shares of the bank’s stock after acquiring an additional 280,255 shares during the period. Thrivent Financial for Lutherans owned about 1.49% of Glacier Bancorp worth $77,435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GBCI. Allspring Global Investments Holdings LLC bought a new stake in shares of Glacier Bancorp in the 1st quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in shares of Glacier Bancorp during the second quarter valued at $25,000. GAMMA Investing LLC increased its holdings 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 buying an additional 772 shares in the last quarter. Venturi Wealth Management LLC raised its position in Glacier Bancorp by 44.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after buying an additional 927 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Glacier Bancorp during the 2nd quarter valued at about $207,000. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Stock Performance

Shares of NASDAQ GBCI opened at $56.24 on Monday. Glacier Bancorp, Inc. has a 12-month low of $32.00 and a 12-month high of $59.19. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 34.72 and a beta of 0.77. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $48.41 and a 200 day moving average of $43.05.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data 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 the consensus estimate of $212.57 million. During the same quarter in the previous year, the firm posted $0.47 EPS. On average, research analysts anticipate that Glacier Bancorp, Inc. will post 1.67 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were given 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 81.48%.

Wall Street Analysts Forecast Growth

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

Glacier Bancorp Company 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.