Moors & Cabot Inc. Decreases Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Moors & Cabot Inc. lowered its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,971 shares of the bank’s stock after selling 1,540 shares during the period. Moors & Cabot Inc.’s holdings in Glacier Bancorp were worth $1,233,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GBCI. CANADA LIFE ASSURANCE Co grew its holdings in Glacier Bancorp by 21.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock worth $3,160,000 after purchasing an additional 13,655 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Glacier Bancorp during the 1st quarter valued at about $477,000. Blue Trust Inc. raised its stake in Glacier Bancorp by 20,598.6% in the second quarter. Blue Trust Inc. now owns 14,903 shares of the bank’s stock valued at $600,000 after buying an additional 14,831 shares during the last quarter. Capital Research Global Investors boosted its holdings in Glacier Bancorp by 60.3% in the first quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock worth $77,539,000 after acquiring an additional 724,089 shares in the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Glacier Bancorp during the third quarter worth about $543,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Up 2.8 %

NASDAQ GBCI opened at $57.39 on Friday. The company has a fifty day moving average of $49.50 and a 200 day moving average of $43.49. The company has a market capitalization of $6.51 billion, a PE ratio of 35.43 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 1 year low of $32.00 and a 1 year high of $59.19.

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

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.30%. Glacier Bancorp’s payout ratio is 81.48%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GBCI shares. Raymond James increased 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. Piper Sandler lifted their price objective on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Truist Financial upped their target price on Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Glacier Bancorp presently has a consensus rating of “Hold” and an average target price of $46.20.

Glacier Bancorp 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.