Orion Portfolio Solutions LLC Lowers Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Orion Portfolio Solutions LLC decreased its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,830 shares of the bank’s stock after selling 1,187 shares during the period. Orion Portfolio Solutions LLC’s holdings in Glacier Bancorp were worth $906,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC bought a new position in Glacier Bancorp in the 2nd quarter worth approximately $25,000. GAMMA Investing LLC lifted its holdings in shares of Glacier Bancorp by 60.4% in the third quarter. GAMMA Investing LLC now owns 2,516 shares of the bank’s stock worth $115,000 after buying an additional 947 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Glacier Bancorp by 44.8% during the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after acquiring an additional 927 shares during the last quarter. Wolverine Trading LLC purchased a new position in Glacier Bancorp during the third quarter valued at $205,000. Finally, Paloma Partners Management Co purchased a new position in Glacier Bancorp during the third quarter valued at $250,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

NASDAQ:GBCI opened at $54.73 on Monday. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 33.78 and a beta of 0.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day simple moving average of $53.32 and a 200-day simple moving average of $45.68. Glacier Bancorp, Inc. has a 1 year low of $34.35 and a 1 year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. The company had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. During the same period last year, the company earned $0.47 earnings per share. Equities analysts forecast that Glacier Bancorp, Inc. will post 1.7 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.41%. Glacier Bancorp’s dividend payout ratio is presently 81.48%.

Analysts Set New Price Targets

Several analysts have commented on GBCI shares. Keefe, Bruyette & Woods boosted their price target on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Truist Financial increased their price target on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Raymond James lifted their price objective on Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler upped their price objective on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $48.83.

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.