Advantage Alpha Capital Partners LP Buys 3,348 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Advantage Alpha Capital Partners LP boosted its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 39.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,863 shares of the bank’s stock after buying an additional 3,348 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Glacier Bancorp were worth $542,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of Glacier Bancorp by 21.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock valued at $3,160,000 after acquiring an additional 13,655 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Glacier Bancorp by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 81,150 shares of the bank’s stock valued at $3,269,000 after purchasing an additional 4,069 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Glacier Bancorp during the 1st quarter worth approximately $477,000. Cetera Advisors LLC grew its position in shares of Glacier Bancorp by 34.9% during the 1st quarter. Cetera Advisors LLC now owns 12,596 shares of the bank’s stock worth $507,000 after buying an additional 3,256 shares during the period. Finally, Westwood Holdings Group Inc. raised its stake in shares of Glacier Bancorp by 34.6% during the first quarter. Westwood Holdings Group Inc. now owns 485,574 shares of the bank’s stock worth $19,559,000 after buying an additional 124,891 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Glacier Bancorp Price Performance

GBCI opened at $58.89 on Tuesday. The stock has a market cap of $6.68 billion, a P/E ratio of 36.35 and a beta of 0.77. Glacier Bancorp, Inc. has a 12 month low of $32.00 and a 12 month high of $60.67. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $50.06 and a 200 day simple moving average of $43.85.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The company had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same period in the prior year, the company earned $0.47 earnings per share. On average, research analysts expect that Glacier Bancorp, Inc. will post 1.7 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.32 annualized dividend and a yield of 2.24%. Glacier Bancorp’s dividend payout ratio (DPR) is currently 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.