Victory Capital Management Inc. Has $53.55 Million Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Victory Capital Management Inc. lessened its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,296,041 shares of the bank’s stock after selling 14,412 shares during the period. Victory Capital Management Inc.’s holdings in Glacier Bancorp were worth $53,552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in Glacier Bancorp by 409.4% in the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after purchasing an additional 479 shares during the period. GAMMA Investing LLC bought a new position in shares of Glacier Bancorp during the fourth quarter worth about $25,000. FNY Investment Advisers LLC bought a new stake in Glacier Bancorp in the fourth quarter valued at approximately $28,000. Selway Asset Management bought a new stake in Glacier Bancorp in the third quarter valued at approximately $47,000. Finally, Allspring Global Investments Holdings LLC increased its position in Glacier Bancorp by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock valued at $93,000 after purchasing an additional 413 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Stock Up 0.7 %

Shares of NASDAQ GBCI opened at $37.91 on Friday. The firm has a market cap of $4.30 billion, a PE ratio of 21.66 and a beta of 0.81. The company’s fifty day simple moving average is $37.89 and its 200 day simple moving average is $37.15. 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 12-month low of $26.77 and a 12-month high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Wednesday, April 24th. 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 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 period in the previous year, the company earned $0.55 earnings per share. Glacier Bancorp’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Glacier Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.48%. 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. Glacier Bancorp’s dividend payout ratio (DPR) is 75.43%.

Analyst Ratings Changes

GBCI has been the topic of a number of recent analyst reports. DA Davidson dropped their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. Truist Financial decreased their price target on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Finally, Stephens dropped their price objective on 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Glacier Bancorp presently 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.