Truist Financial Corp Sells 34,888 Shares of Glacier Bancorp, Inc. $GBCI

Truist Financial Corp decreased its stake in Glacier Bancorp, Inc. (NYSE:GBCI) by 44.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 43,037 shares of the company’s stock after selling 34,888 shares during the period. Truist Financial Corp’s holdings in Glacier Bancorp were worth $1,896,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Glacier Bancorp by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock worth $588,471,000 after acquiring an additional 870,335 shares during the period. Capital International Investors raised its position in Glacier Bancorp by 17.1% in the third quarter. Capital International Investors now owns 1,742,780 shares of the company’s stock worth $84,821,000 after acquiring an additional 254,514 shares during the period. Deprince Race & Zollo Inc. raised its position in Glacier Bancorp by 30.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company’s stock worth $73,229,000 after acquiring an additional 390,366 shares during the period. Northern Trust Corp raised its position in Glacier Bancorp by 1.0% in the third quarter. Northern Trust Corp now owns 1,657,366 shares of the company’s stock worth $80,664,000 after acquiring an additional 16,646 shares during the period. Finally, Freestone Grove Partners LP increased its stake in shares of Glacier Bancorp by 24.8% in the third quarter. Freestone Grove Partners LP now owns 1,385,589 shares of the company’s stock worth $67,437,000 after purchasing an additional 275,209 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of NYSE:GBCI opened at $46.46 on Friday. The company has a 50 day moving average of $46.35 and a 200 day moving average of $46.00. The stock has a market cap of $6.05 billion, a P/E ratio of 21.71 and a beta of 0.76. Glacier Bancorp, Inc. has a 12 month low of $39.90 and a 12 month high of $53.99. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06.

Glacier Bancorp (NYSE:GBCI) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $309.61 million during the quarter. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. During the same period in the prior year, the firm posted $0.48 EPS. As a group, sell-side analysts forecast that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Tuesday, April 7th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $1.32 annualized dividend and a yield of 2.8%. Glacier Bancorp’s payout ratio is currently 61.68%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GBCI. Stephens lifted their target price on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Brean Capital downgraded shares of Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating on shares of Glacier Bancorp in a report on Monday, January 26th. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. Finally, Janney Montgomery Scott assumed coverage on shares of Glacier Bancorp in a report on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 price objective for the company. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.17.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.