Copperwynd Financial LLC Trims Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Copperwynd Financial LLC lessened its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 418,859 shares of the bank’s stock after selling 26,500 shares during the quarter. Glacier Bancorp makes up approximately 6.9% of Copperwynd Financial LLC’s investment portfolio, making the stock its 3rd largest holding. Copperwynd Financial LLC’s holdings in Glacier Bancorp were worth $17,307,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. AE Wealth Management LLC raised its position in shares of Glacier Bancorp by 19.4% in the 3rd quarter. AE Wealth Management LLC now owns 12,628 shares of the bank’s stock worth $360,000 after acquiring an additional 2,052 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Glacier Bancorp by 6.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 41,876 shares of the bank’s stock valued at $1,193,000 after buying an additional 2,415 shares during the period. Raymond James & Associates boosted its holdings in shares of Glacier Bancorp by 3.1% during the 3rd quarter. Raymond James & Associates now owns 991,073 shares of the bank’s stock worth $28,246,000 after buying an additional 29,482 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Glacier Bancorp by 15.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 53,456 shares of the bank’s stock worth $1,524,000 after buying an additional 7,150 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Glacier Bancorp by 22.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,911 shares of the bank’s stock valued at $653,000 after acquiring an additional 4,271 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

GBCI has been the topic of several research analyst reports. Stephens cut their target price 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 dropped their price target on 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 raised Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. Truist Financial lowered their target price on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Finally, Raymond James lifted their price target on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Glacier Bancorp currently has a consensus rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Stock Down 0.1 %

Shares of Glacier Bancorp stock traded down $0.04 on Monday, hitting $37.08. The company had a trading volume of 623,358 shares, compared to its average volume of 754,792. 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 0.76, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a 50 day moving average of $37.86 and a 200-day moving average of $37.01. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 21.19 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The company had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. During the same quarter last year, the company posted $0.55 EPS. The company’s quarterly revenue 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 year.

Glacier Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.56%. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio is currently 75.43%.

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.