Cercano Management LLC Makes New Investment in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Cercano Management LLC bought a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 317,338 shares of the bank’s stock, valued at approximately $13,112,000. Cercano Management LLC owned 0.29% of Glacier Bancorp at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tudor Investment Corp Et Al lifted its holdings in Glacier Bancorp by 536.2% during the 3rd quarter. Tudor Investment Corp Et Al now owns 112,033 shares of the bank’s stock worth $3,193,000 after buying an additional 94,422 shares during the period. Aigen Investment Management LP bought a new stake in shares of Glacier Bancorp during the 3rd quarter valued at about $956,000. Massachusetts Financial Services Co. MA boosted its position in shares of Glacier Bancorp by 30.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,024,466 shares of the bank’s stock valued at $29,197,000 after purchasing an additional 239,168 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in shares of Glacier Bancorp during the 3rd quarter valued at about $2,992,000. Finally, Boston Partners boosted its position in shares of Glacier Bancorp by 37.7% during the 3rd quarter. Boston Partners now owns 172,119 shares of the bank’s stock valued at $4,905,000 after purchasing an additional 47,142 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Stock Down 0.7 %

NASDAQ:GBCI traded down $0.28 on Friday, hitting $37.12. The stock had a trading volume of 373,490 shares, compared to its average volume of 626,117. The business’s fifty day moving average is $37.88 and its 200 day moving average is $36.93. The company has a market cap of $4.21 billion, a PE ratio of 21.21 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. Glacier Bancorp, Inc. has a 52 week low of $26.77 and a 52 week high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company 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 business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. On average, equities research analysts expect that Glacier Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a dividend yield of 3.56%. Glacier Bancorp’s dividend payout ratio is 75.43%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GBCI. Raymond James upped their target price on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Stephens cut their target price on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. DA Davidson cut their price target on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Truist Financial cut their price target on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.40.

Glacier Bancorp 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.