Mirae Asset Global Investments Co. Ltd. Acquires 2,739 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,200 shares of the bank’s stock after purchasing an additional 2,739 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Glacier Bancorp were worth $2,116,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Captrust Financial Advisors lifted its position in shares of Glacier Bancorp by 3.3% during the fourth quarter. Captrust Financial Advisors now owns 8,427 shares of the bank’s stock worth $416,000 after purchasing an additional 269 shares during the last quarter. US Bancorp DE raised its holdings in shares of 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 in the last quarter. Mariner LLC raised its holdings in shares of Glacier Bancorp by 2.9% in the first quarter. Mariner LLC now owns 13,763 shares of the bank’s stock valued at $692,000 after acquiring an additional 382 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Glacier Bancorp by 2.2% in the first quarter. Synovus Financial Corp now owns 18,137 shares of the bank’s stock valued at $916,000 after acquiring an additional 390 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Glacier Bancorp by 14.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock valued at $93,000 after acquiring an additional 413 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GBCI has been the subject of several recent research reports. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. Truist Financial decreased their price objective on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating for the company in a report on Monday, April 1st. Raymond James lifted their target price on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, Stephens reiterated an “equal weight” rating and issued a $44.00 target price on shares of Glacier Bancorp in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.40.

Glacier Bancorp Price Performance

GBCI opened at $36.95 on Friday. The business’s 50-day moving average is $37.80 and its two-hundred day moving average is $36.59. Glacier Bancorp, Inc. has a 1 year low of $26.77 and a 1 year high of $44.06. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $4.19 billion, a PE ratio of 18.38 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The business had revenue of $196.47 million for the quarter, compared to analysts’ expectations of $202.66 million. During the same quarter in the previous year, the firm posted $0.55 EPS. Glacier Bancorp’s revenue was down 8.2% on a year-over-year basis. Research analysts anticipate that Glacier Bancorp, Inc. will post 1.82 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were paid a dividend of $0.33 per share. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.57%. Glacier Bancorp’s payout ratio is presently 65.67%.

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. The company offers retail banking, business banking, and mortgage origination and loan servicing services.