Snowden Capital Advisors LLC Sells 3,584 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Snowden Capital Advisors LLC lessened its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 20.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,702 shares of the bank’s stock after selling 3,584 shares during the period. Snowden Capital Advisors LLC’s holdings in Glacier Bancorp were worth $688,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GBCI. Norges Bank bought a new stake in shares of Glacier Bancorp during the 4th quarter valued at $56,923,000. Madison Investment Advisors LLC bought a new stake in shares of Glacier Bancorp during the 4th quarter valued at $47,770,000. Millennium Management LLC boosted its holdings in shares of Glacier Bancorp by 4,600.1% during the 4th quarter. Millennium Management LLC now owns 936,079 shares of the bank’s stock valued at $47,010,000 after buying an additional 916,163 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Glacier Bancorp by 76.0% during the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank’s stock valued at $28,192,000 after buying an additional 242,414 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Glacier Bancorp during the 4th quarter valued at $9,544,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $42.38 on Wednesday. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 25.38 and a beta of 0.79. The firm’s 50-day moving average is $41.97 and its 200 day moving average is $48.34. Glacier Bancorp, Inc. has a 1 year low of $34.48 and a 1 year high of $60.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the previous year, the business posted $0.29 EPS. Sell-side analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Tuesday, April 8th. Glacier Bancorp’s dividend payout ratio is currently 70.97%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Raymond James set a $45.00 target price on shares of Glacier Bancorp in a report on Monday, April 28th. Stephens upgraded shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler dropped their price target on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $50.50.

About Glacier Bancorp

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.