Washington Trust Bank Sells 800 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Washington Trust Bank reduced its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,804 shares of the bank’s stock after selling 800 shares during the period. Washington Trust Bank’s holdings in Glacier Bancorp were worth $2,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Glacier Bancorp in the first quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new position in Glacier Bancorp during the second quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in Glacier Bancorp during the first quarter valued at approximately $50,000. GAMMA Investing LLC raised its position in Glacier Bancorp by 96.9% during the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after purchasing an additional 772 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Glacier Bancorp during the second quarter valued at approximately $207,000. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI traded up $5.80 during trading on Thursday, hitting $57.90. 1,893,485 shares of the company were exchanged, compared to its average volume of 570,432. The business’s 50 day moving average is $46.88 and its 200-day moving average is $42.06. The company has a market capitalization of $6.57 billion, a P/E ratio of 31.44 and a beta of 0.77. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. Glacier Bancorp, Inc. has a 1-year low of $30.18 and a 1-year high of $58.50.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.03. The company had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same period in the prior year, the business earned $0.47 earnings per share. Equities analysts forecast that Glacier Bancorp, Inc. will post 1.67 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, October 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.28%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Truist Financial boosted their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Piper Sandler boosted their price objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Finally, Raymond James boosted their price objective on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and a consensus price target of $46.20.

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.