Silver Oak Advisory Group Inc. Has $668,000 Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Silver Oak Advisory Group Inc. lowered its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6.1% in the fourth quarter, HoldingsChannel reports. The fund owned 16,175 shares of the bank’s stock after selling 1,046 shares during the period. Silver Oak Advisory Group Inc.’s holdings in Glacier Bancorp were worth $668,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in Glacier Bancorp by 409.4% during the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after purchasing an additional 479 shares during the last quarter. GAMMA Investing LLC bought a new stake in Glacier Bancorp during the 4th quarter worth about $25,000. FNY Investment Advisers LLC acquired a new position in shares of Glacier Bancorp during the 4th quarter worth about $28,000. Selway Asset Management bought a new position in shares of Glacier Bancorp in the 3rd quarter valued at about $47,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Glacier Bancorp by 14.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,257 shares of the bank’s stock valued at $93,000 after acquiring an additional 413 shares during the last quarter. 80.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GBCI has been the subject of several recent research reports. Truist Financial reduced their price target on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Monday. StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. Raymond James raised their target price on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Stephens dropped their price target on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, DA Davidson cut their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Stock Performance

Shares of GBCI traded down $0.54 during mid-day trading on Thursday, reaching $37.40. The company’s stock had a trading volume of 658,404 shares, compared to its average volume of 761,203. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. Glacier Bancorp, Inc. has a 1-year low of $26.77 and a 1-year high of $44.06. The business has a 50-day simple moving average of $37.89 and a two-hundred day simple moving average of $36.84. The stock has a market cap of $4.24 billion, a P/E ratio of 21.37 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 net margin of 16.40% and a return on equity of 6.51%. The business had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same period in the prior year, the business earned $0.55 EPS. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Glacier Bancorp, Inc. will post 1.73 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were issued a dividend of $0.33 per share. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.53%. Glacier Bancorp’s payout ratio is presently 75.43%.

Glacier Bancorp Company 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.