State of New Jersey Common Pension Fund D Decreases Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

State of New Jersey Common Pension Fund D cut its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,095 shares of the bank’s stock after selling 6,036 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.07% of Glacier Bancorp worth $3,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GBCI. AE Wealth Management LLC lifted its stake in Glacier Bancorp by 19.4% in the 3rd quarter. AE Wealth Management LLC now owns 12,628 shares of the bank’s stock valued at $360,000 after buying an additional 2,052 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Glacier Bancorp by 6.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 41,876 shares of the bank’s stock valued at $1,193,000 after buying an additional 2,415 shares in the last quarter. Raymond James & Associates lifted its stake in Glacier Bancorp by 3.1% in the 3rd quarter. Raymond James & Associates now owns 991,073 shares of the bank’s stock valued at $28,246,000 after buying an additional 29,482 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Glacier Bancorp by 15.4% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 53,456 shares of the bank’s stock valued at $1,524,000 after buying an additional 7,150 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Glacier Bancorp by 22.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,911 shares of the bank’s stock valued at $653,000 after buying an additional 4,271 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Down 0.7 %

Shares of NASDAQ GBCI opened at $37.12 on Friday. The company has a 50 day simple moving average of $37.88 and a 200-day simple moving average of $36.93. The company has a market capitalization of $4.21 billion, a P/E ratio of 21.21 and a beta of 0.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.79 and a quick ratio of 0.79. Glacier Bancorp, Inc. has a 1 year low of $26.77 and a 1 year high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The firm had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same quarter in the prior year, the business earned $0.55 EPS. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. On average, equities research analysts predict that Glacier Bancorp, Inc. will post 1.68 earnings per share for the current year.

Glacier Bancorp Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on GBCI. Raymond James raised their price target on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. DA Davidson decreased their target price on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Truist Financial decreased their target price on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Stephens decreased their target price on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Finally, StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. One investment 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.com, the company currently has an average rating of “Hold” and a consensus 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.