Victory Capital Management Inc. Acquires 6,394 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Victory Capital Management Inc. grew its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,534,667 shares of the bank’s stock after purchasing an additional 6,394 shares during the period. Victory Capital Management Inc.’s holdings in Glacier Bancorp were worth $70,134,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in Glacier Bancorp in the 1st quarter worth about $25,000. SG Americas Securities LLC purchased a new position in Glacier Bancorp in the first quarter worth about $216,000. Sei Investments Co. lifted its stake in shares of Glacier Bancorp by 46.2% in the first quarter. Sei Investments Co. now owns 148,305 shares of the bank’s stock worth $5,974,000 after buying an additional 46,890 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Glacier Bancorp during the first quarter valued at approximately $50,000. Finally, Russell Investments Group Ltd. increased its position in shares of Glacier Bancorp by 6.7% during the first quarter. Russell Investments Group Ltd. now owns 360,164 shares of the bank’s stock valued at $14,507,000 after acquiring an additional 22,546 shares in the last quarter. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $56.28 on Friday. The firm has a market capitalization of $6.38 billion, a P/E ratio of 34.74 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. Glacier Bancorp, Inc. has a one year low of $32.00 and a one year high of $59.19. The business has a fifty day moving average of $47.91 and a 200 day moving average of $42.73.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.42 by $0.03. The firm had revenue of $324.28 million during the quarter, compared to analyst estimates of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 1.67 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Tuesday, October 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio is presently 81.48%.

Wall Street Analyst Weigh In

GBCI has been the topic of several analyst reports. Piper Sandler upped their price objective on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Raymond James upped their price target on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Truist Financial lifted their price objective on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company 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.