King Luther Capital Management Corp Sells 7,724 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

King Luther Capital Management Corp cut its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,780 shares of the bank’s stock after selling 7,724 shares during the period. King Luther Capital Management Corp’s holdings in Glacier Bancorp were worth $4,743,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GBCI. Pacer Advisors Inc. increased its holdings in shares of Glacier Bancorp by 2.6% during the second quarter. Pacer Advisors Inc. now owns 16,943 shares of the bank’s stock worth $632,000 after purchasing an additional 427 shares during the period. Inspire Investing LLC increased its stake in Glacier Bancorp by 6.7% during the 2nd quarter. Inspire Investing LLC now owns 9,472 shares of the bank’s stock worth $353,000 after acquiring an additional 593 shares during the period. Hsbc Holdings PLC increased its stake in Glacier Bancorp by 7.6% during the 2nd quarter. Hsbc Holdings PLC now owns 8,498 shares of the bank’s stock worth $317,000 after acquiring an additional 600 shares during the period. Allied Investment Advisors LLC raised its holdings in Glacier Bancorp by 4.5% in the 3rd quarter. Allied Investment Advisors LLC now owns 14,831 shares of the bank’s stock valued at $678,000 after acquiring an additional 643 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Glacier Bancorp during the 2nd quarter valued at $25,000. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Trading Up 2.2 %

Shares of Glacier Bancorp stock opened at $58.33 on Friday. The firm’s 50 day moving average is $49.78 and its 200 day moving average is $43.63. The firm has a market capitalization of $6.61 billion, a PE ratio of 36.01 and a beta of 0.77. Glacier Bancorp, Inc. has a 1 year low of $32.00 and a 1 year high of $59.19. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62.

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

Glacier Bancorp Dividend Announcement

The company also recently declared 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, December 10th. Glacier Bancorp’s payout ratio is 81.48%.

Wall Street Analysts Forecast Growth

GBCI has been the subject of a number of analyst reports. Raymond James boosted their price target on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Piper Sandler upped their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Finally, Truist Financial lifted their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, October 28th. One investment 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. Based on data from MarketBeat.com, the company presently has an average 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.