Fisher Asset Management LLC Sells 239,511 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Fisher Asset Management LLC decreased its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 19.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,010,961 shares of the bank’s stock after selling 239,511 shares during the period. Fisher Asset Management LLC owned about 0.91% of Glacier Bancorp worth $41,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GBCI. Tudor Investment Corp Et Al raised its stake in Glacier Bancorp by 536.2% during the 3rd quarter. Tudor Investment Corp Et Al now owns 112,033 shares of the bank’s stock valued at $3,193,000 after buying an additional 94,422 shares during the last quarter. Cercano Management LLC bought a new position in Glacier Bancorp in the fourth quarter valued at about $13,112,000. Aigen Investment Management LP bought a new position in Glacier Bancorp in the third quarter valued at about $956,000. Massachusetts Financial Services Co. MA boosted its position in Glacier Bancorp by 30.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,024,466 shares of the bank’s stock worth $29,197,000 after purchasing an additional 239,168 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in shares of Glacier Bancorp during the 3rd quarter valued at about $2,992,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Up 0.7 %

Shares of Glacier Bancorp stock opened at $37.91 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. The company has a fifty day moving average of $37.89 and a 200 day moving average of $37.15. The company has a market capitalization of $4.30 billion, a P/E ratio of 21.66 and a beta of 0.81. Glacier Bancorp, Inc. has a fifty-two week low of $26.77 and a fifty-two week high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The business had revenue of $196.47 million during the quarter, compared to the consensus estimate of $202.66 million. Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The business’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. On average, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s payout ratio is 75.43%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. DA Davidson lowered their price objective on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Truist Financial cut their price objective on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Stephens decreased their target price on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 23rd. Finally, StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.40.

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.