Thrivent Financial for Lutherans Grows Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Thrivent Financial for Lutherans increased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 19.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,694,409 shares of the bank’s stock after buying an additional 280,255 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Glacier Bancorp were worth $77,435,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Glacier Bancorp in the first quarter valued at about $25,000. International Assets Investment Management LLC bought a new stake in Glacier Bancorp during the 2nd quarter valued at approximately $25,000. GAMMA Investing LLC lifted its holdings in Glacier Bancorp by 96.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after purchasing an additional 772 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Glacier Bancorp by 44.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after purchasing an additional 927 shares during the period. Finally, Intech Investment Management LLC bought a new position in Glacier Bancorp in the 2nd quarter worth approximately $207,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Analysts Set New Price Targets

GBCI has been the topic of several recent analyst reports. Piper Sandler lifted 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. Raymond James boosted their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial increased their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Glacier Bancorp has a consensus rating of “Hold” and an average price target of $46.20.

Glacier Bancorp Trading Down 0.1 %

GBCI stock opened at $56.24 on Monday. The firm has a fifty day moving average price of $48.41 and a 200 day moving average price of $43.05. Glacier Bancorp, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $59.19. The firm has a market cap of $6.38 billion, a PE ratio of 34.72 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $324.28 million during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.47 EPS. Sell-side analysts anticipate that Glacier Bancorp, Inc. will post 1.67 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.35%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%.

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.