Comerica Bank Lowers Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Comerica Bank lessened its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,455 shares of the bank’s stock after selling 1,473 shares during the period. Comerica Bank’s holdings in Glacier Bancorp were worth $1,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of GBCI. Northern Trust Corp increased its position in shares of Glacier Bancorp by 7.7% in the fourth quarter. Northern Trust Corp now owns 1,763,983 shares of the bank’s stock valued at $88,587,000 after buying an additional 126,316 shares in the last quarter. Piedmont Capital Management LLC increased its holdings in Glacier Bancorp by 4.5% in the 4th quarter. Piedmont Capital Management LLC now owns 5,256 shares of the bank’s stock worth $262,000 after acquiring an additional 224 shares in the last quarter. Three Seasons Wealth LLC acquired a new position in Glacier Bancorp during the fourth quarter worth $239,000. Snyder Capital Management L P lifted its holdings in Glacier Bancorp by 3.4% during the fourth quarter. Snyder Capital Management L P now owns 1,123,980 shares of the bank’s stock valued at $56,446,000 after purchasing an additional 37,472 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Glacier Bancorp by 8.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 96,827 shares of the bank’s stock valued at $4,864,000 after purchasing an additional 7,914 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler lowered their price target on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods dropped their price target on Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Finally, Raymond James set a $45.00 price objective on Glacier Bancorp in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.50.

Glacier Bancorp Stock Down 0.4 %

Shares of NASDAQ:GBCI opened at $42.16 on Friday. The business has a fifty day moving average of $42.23 and a two-hundred day moving average of $48.72. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market cap of $4.79 billion, a P/E ratio of 25.25 and a beta of 0.79. Glacier Bancorp, Inc. has a 52-week low of $34.48 and a 52-week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Monday, April 28th. The bank reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the prior year, the firm earned $0.29 EPS. On average, research analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were paid a dividend of $0.33 per share. The ex-dividend date was Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.13%. Glacier Bancorp’s dividend payout ratio (DPR) is 70.97%.

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.