Millennium Management LLC Has $47.01 Million Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Millennium Management LLC grew its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4,600.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 936,079 shares of the bank’s stock after buying an additional 916,163 shares during the period. Millennium Management LLC’s holdings in Glacier Bancorp were worth $47,010,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GBCI. Mather Group LLC. lifted its position in shares of Glacier Bancorp by 97.6% in the fourth quarter. Mather Group LLC. now owns 733 shares of the bank’s stock worth $37,000 after buying an additional 362 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of Glacier Bancorp in the fourth quarter worth about $63,000. Bridge Generations Wealth Management LLC bought a new position in shares of Glacier Bancorp in the fourth quarter worth about $70,000. Smartleaf Asset Management LLC increased its stake in shares of Glacier Bancorp by 17.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank’s stock worth $144,000 after purchasing an additional 431 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Glacier Bancorp in the fourth quarter worth about $146,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 1.8%

Shares of GBCI opened at $42.70 on Friday. Glacier Bancorp, Inc. has a 12-month low of $34.48 and a 12-month high of $60.67. 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 firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 25.57 and a beta of 0.79. The stock’s 50-day moving average price is $42.04 and its 200 day moving average price is $48.50.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same quarter last year, the business earned $0.29 EPS. As a group, research analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Tuesday, April 8th. Glacier Bancorp’s payout ratio is 70.97%.

Wall Street Analyst Weigh In

GBCI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. Piper Sandler dropped their price objective 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. Stephens upgraded Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Raymond James set a $45.00 price objective on Glacier Bancorp in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.50.

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.