D.A. Davidson & CO. Sells 10,804 Shares of Glacier Bancorp, Inc. $GBCI

D.A. Davidson & CO. reduced its stake in Glacier Bancorp, Inc. (NYSE:GBCI) by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 115,835 shares of the company’s stock after selling 10,804 shares during the period. D.A. Davidson & CO.’s holdings in Glacier Bancorp were worth $5,174,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Root Financial Partners LLC boosted its holdings in shares of Glacier Bancorp by 122.5% during the 1st quarter. Root Financial Partners LLC now owns 652 shares of the company’s stock worth $29,000 after buying an additional 359 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of Glacier Bancorp during the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its holdings in shares of Glacier Bancorp by 218.8% during the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock worth $31,000 after purchasing an additional 490 shares during the period. Global Retirement Partners LLC raised its position in shares of Glacier Bancorp by 41.2% in the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock valued at $34,000 after buying an additional 223 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Glacier Bancorp during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of GBCI opened at $53.52 on Friday. The firm has a market cap of $6.96 billion, a PE ratio of 25.01 and a beta of 0.72. Glacier Bancorp, Inc. has a 52-week low of $39.90 and a 52-week high of $54.58. The business’s 50 day moving average price is $49.21 and its two-hundred day moving average price is $48.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83.

Glacier Bancorp (NYSE:GBCI) last issued its earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. The business had revenue of $309.61 million for the quarter. During the same period in the prior year, the company earned $0.48 earnings per share. On average, equities analysts anticipate that Glacier Bancorp, Inc. will post 3.16 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 annualized dividend and a yield of 2.5%. Glacier Bancorp’s dividend payout ratio is 61.68%.

Analyst Upgrades and Downgrades

GBCI has been the subject of a number of analyst reports. Stephens boosted their price target on Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Piper Sandler upped their target price on Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. DA Davidson raised their target price on Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.17.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.