Washington Trust Bank Has $2.28 Million Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Washington Trust Bank decreased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,804 shares of the bank’s stock after selling 800 shares during the quarter. Washington Trust Bank’s holdings in Glacier Bancorp were worth $2,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GBCI. Allspring Global Investments Holdings LLC acquired a new stake in shares of Glacier Bancorp in the 1st quarter valued at about $25,000. BNP Paribas Financial Markets increased its position in shares of Glacier Bancorp by 69.8% in the first quarter. BNP Paribas Financial Markets now owns 59,965 shares of the bank’s stock valued at $2,415,000 after acquiring an additional 24,653 shares during the last quarter. Texas Permanent School Fund Corp increased its position in shares of Glacier Bancorp by 0.6% in the first quarter. Texas Permanent School Fund Corp now owns 96,208 shares of the bank’s stock valued at $3,875,000 after acquiring an additional 585 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Glacier Bancorp in the first quarter valued at about $216,000. Finally, Hilltop National Bank acquired a new stake in shares of Glacier Bancorp in the first quarter valued at about $267,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Analyst Ratings Changes

GBCI has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Raymond James lifted their target price on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial lifted their target price on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.20.

Glacier Bancorp Stock Performance

Glacier Bancorp stock traded up $5.80 during midday trading on Thursday, reaching $57.90. 1,893,485 shares of the company’s stock were exchanged, compared to its average volume of 570,432. Glacier Bancorp, Inc. has a 52 week low of $30.18 and a 52 week high of $58.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 31.44 and a beta of 0.77. The stock’s 50-day simple moving average is $46.88 and its 200 day simple moving average is $42.06.

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

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio is presently 81.48%.

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.