Bridge City Capital LLC Cuts Holdings in Glacier Bancorp, Inc. $GBCI

Bridge City Capital LLC trimmed its position in Glacier Bancorp, Inc. (NYSE:GBCI) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 155,077 shares of the company’s stock after selling 17,986 shares during the period. Glacier Bancorp makes up approximately 2.0% of Bridge City Capital LLC’s investment portfolio, making the stock its 8th largest holding. Bridge City Capital LLC owned 0.12% of Glacier Bancorp worth $6,831,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GBCI. Eurizon Capital SGR S.p.A. bought a new stake in Glacier Bancorp during the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC raised its holdings in 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 acquiring an additional 490 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Glacier Bancorp by 41.2% during the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after acquiring an additional 223 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Glacier Bancorp during the third quarter worth about $40,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Glacier Bancorp during the fourth quarter worth about $46,000. 80.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GBCI has been the topic of several analyst reports. Piper Sandler upped their target price on Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Stephens upped their target price on Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Weiss Ratings upgraded Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. DA Davidson upped their target price on shares of Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Wall Street Zen upgraded shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and an average price target of $55.17.

Glacier Bancorp Price Performance

Shares of NYSE GBCI opened at $49.94 on Friday. The business’s 50 day moving average price is $47.78 and its two-hundred day moving average price is $46.83. The company has a market cap of $6.50 billion, a PE ratio of 23.34 and a beta of 0.74. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.06. Glacier Bancorp, Inc. has a twelve month low of $39.90 and a twelve month high of $53.99.

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

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Tuesday, April 7th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, April 7th. Glacier Bancorp’s payout ratio is 61.68%.

Glacier Bancorp Company 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.