Moors & Cabot Inc. Raises Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Moors & Cabot Inc. boosted its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 31.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,667 shares of the bank’s stock after buying an additional 7,604 shares during the period. Moors & Cabot Inc.’s holdings in Glacier Bancorp were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GBCI. Raymond James Financial Services Advisors Inc. boosted its position in Glacier Bancorp by 3.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,668 shares of the bank’s stock valued at $1,492,000 after buying an additional 926 shares during the last quarter. US Bancorp DE lifted its holdings in Glacier Bancorp by 2.9% in the first quarter. US Bancorp DE now owns 11,115 shares of the bank’s stock valued at $559,000 after acquiring an additional 308 shares during the period. AlphaCrest Capital Management LLC acquired a new position in Glacier Bancorp in the first quarter valued at approximately $410,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Glacier Bancorp by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,755 shares of the bank’s stock valued at $1,999,000 after acquiring an additional 3,791 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in Glacier Bancorp by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 58,637 shares of the bank’s stock valued at $3,029,000 after acquiring an additional 3,729 shares during the period. Hedge funds and other institutional investors own 76.91% of the company’s stock.

Glacier Bancorp Stock Down 2.1 %

NASDAQ GBCI opened at $33.58 on Friday. The business has a fifty day moving average price of $29.97 and a 200 day moving average price of $30.94. Glacier Bancorp, Inc. has a one year low of $26.77 and a one year high of $58.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $3.72 billion, a P/E ratio of 14.99 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Friday, October 20th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. Glacier Bancorp had a return on equity of 8.58% and a net margin of 22.89%. The firm had revenue of $295.15 million during the quarter, compared to the consensus estimate of $197.37 million. During the same period in the prior year, the company earned $0.72 EPS. Research analysts anticipate that Glacier Bancorp, Inc. will post 1.92 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 19th. Shareholders of record on Tuesday, October 10th were issued a $0.33 dividend. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Friday, October 6th. Glacier Bancorp’s dividend payout ratio is presently 58.93%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GBCI shares. Stephens reissued an “equal weight” rating and issued a $31.00 price target on shares of Glacier Bancorp in a report on Friday, July 21st. StockNews.com raised Glacier Bancorp to a “sell” rating in a research note on Friday, November 3rd. DA Davidson upped their target price on Glacier Bancorp from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Piper Sandler reduced their target price on Glacier Bancorp from $34.00 to $31.00 in a research note on Monday, July 24th. Finally, Truist Financial upped their target price on Glacier Bancorp from $31.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Glacier Bancorp has an average rating of “Hold” and an average target price of $33.80.

About Glacier Bancorp

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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposit, negotiated-rate jumbo certificates, and individual retirement accounts.