Stockman Wealth Management Inc. Invests $202,000 in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Stockman Wealth Management Inc. purchased a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,885 shares of the bank’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. increased its position in shares of Glacier Bancorp by 3.2% in the fourth quarter. Federated Hermes Inc. now owns 9,580 shares of the bank’s stock worth $396,000 after purchasing an additional 300 shares during the last quarter. Xponance Inc. increased its position in shares of Glacier Bancorp by 2.0% during the 4th quarter. Xponance Inc. now owns 16,355 shares of the bank’s stock valued at $676,000 after purchasing an additional 326 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Glacier Bancorp by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock valued at $93,000 after purchasing an additional 413 shares during the last quarter. Arizona State Retirement System increased its position in shares of Glacier Bancorp by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 31,568 shares of the bank’s stock valued at $900,000 after purchasing an additional 427 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Glacier Bancorp by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,030 shares of the bank’s stock valued at $884,000 after purchasing an additional 444 shares during the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GBCI has been the topic of a number of recent research reports. StockNews.com raised Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Raymond James increased their price target on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. DA Davidson dropped their price target on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday. Stephens dropped their price target on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Truist Financial decreased their price objective on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Glacier Bancorp has an average rating of “Hold” and an average price target of $40.40.

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI traded up $0.90 during trading on Tuesday, hitting $38.59. The stock had a trading volume of 170,631 shares, compared to its average volume of 759,117. Glacier Bancorp, Inc. has a 12-month low of $26.77 and a 12-month high of $44.06. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 21.87 and a beta of 0.80. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. The stock has a 50-day simple moving average of $37.80 and a two-hundred day simple moving average of $36.76.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). The firm had revenue of $196.47 million during the quarter, compared to analysts’ expectations of $202.66 million. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 earnings per share. On average, equities research analysts expect that Glacier Bancorp, Inc. will post 1.82 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were given a dividend of $0.33 per share. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, April 8th. This represents a $1.32 dividend on an annualized basis and a yield of 3.42%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

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.