Teacher Retirement System of Texas Sells 3,476 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Teacher Retirement System of Texas cut its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCIFree Report) by 40.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,097 shares of the bank’s stock after selling 3,476 shares during the period. Teacher Retirement System of Texas’ holdings in Glacier Bancorp were worth $211,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GBCI. Allspring Global Investments Holdings LLC lifted 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 worth $93,000 after buying an additional 413 shares in the last quarter. Arizona State Retirement System lifted its position in Glacier Bancorp by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 31,568 shares of the bank’s stock worth $900,000 after buying an additional 427 shares in the last quarter. Boston Partners lifted its position in Glacier Bancorp by 37.7% during the 3rd quarter. Boston Partners now owns 172,119 shares of the bank’s stock worth $4,905,000 after buying an additional 47,142 shares in the last quarter. Swiss National Bank increased its stake in shares of Glacier Bancorp by 1.0% during the 3rd quarter. Swiss National Bank now owns 243,721 shares of the bank’s stock worth $6,946,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Glacier Bancorp by 30.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,024,466 shares of the bank’s stock worth $29,197,000 after purchasing an additional 239,168 shares during the last quarter. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Stock Up 2.5 %

Shares of GBCI opened at $36.86 on Friday. Glacier Bancorp, Inc. has a 52 week low of $26.83 and a 52 week high of $44.06. The firm has a market cap of $4.18 billion, a P/E ratio of 21.06 and a beta of 0.81. The firm’s 50-day simple moving average is $37.87 and its 200 day simple moving average is $38.12. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79.

Glacier Bancorp (NASDAQ:GBCIGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The company had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. During the same quarter last year, the company posted $0.55 EPS. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. On average, analysts forecast that Glacier Bancorp, Inc. will post 1.64 earnings per share for the current 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 issued a $0.33 dividend. The ex-dividend date was Monday, April 8th. This represents a $1.32 dividend on an annualized basis and a yield of 3.58%. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s payout ratio is currently 75.43%.

Analyst Ratings Changes

Several research analysts have recently weighed in on GBCI shares. Stephens lowered their price objective 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. DA Davidson lowered their price objective 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. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research note on Wednesday, May 22nd. Finally, Truist Financial lowered their price objective 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.40.

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About Glacier Bancorp

(Free Report)

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.

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Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

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