Advantage Alpha Capital Partners LP Cuts Stock Holdings in Glacier Bancorp, Inc. $GBCI

Advantage Alpha Capital Partners LP decreased its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 60.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,258 shares of the bank’s stock after selling 8,171 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Glacier Bancorp were worth $233,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in Glacier Bancorp by 4,600.1% during the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank’s stock worth $47,010,000 after acquiring an additional 916,163 shares during the period. Nuveen LLC bought a new stake in shares of Glacier Bancorp during the 1st quarter valued at $21,220,000. Peregrine Capital Management LLC bought a new stake in shares of Glacier Bancorp during the 1st quarter valued at $7,754,000. GAMMA Investing LLC raised its stake in shares of Glacier Bancorp by 4,580.7% during the 1st quarter. GAMMA Investing LLC now owns 142,388 shares of the bank’s stock valued at $6,296,000 after purchasing an additional 139,346 shares during the period. Finally, Northern Trust Corp grew its position in Glacier Bancorp by 7.7% during the fourth quarter. Northern Trust Corp now owns 1,763,983 shares of the bank’s stock worth $88,587,000 after buying an additional 126,316 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Insider Activity

In other news, insider Lee Kenneth Groom sold 800 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $44.24, for a total value of $35,392.00. Following the completion of the transaction, the insider owned 11,918 shares of the company’s stock, valued at approximately $527,252.32. This represents a 6.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GBCI. DA Davidson restated a “buy” rating and set a $50.00 target price on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Piper Sandler increased their target price on Glacier Bancorp from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Keefe, Bruyette & Woods increased their target price on Glacier Bancorp from $50.00 to $52.00 and gave the company a “market perform” rating in a report on Friday, June 27th. Raymond James Financial reaffirmed an “outperform” rating and set a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Finally, Janney Montgomery Scott raised Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Glacier Bancorp Trading Up 6.6%

GBCI opened at $48.4830 on Friday. Glacier Bancorp, Inc. has a one year low of $36.76 and a one year high of $60.67. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 29.03 and a beta of 0.79. The business has a 50 day simple moving average of $44.68 and a two-hundred day simple moving average of $44.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, July 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same period in the prior year, the business posted $0.39 earnings per share. Analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. Glacier Bancorp’s dividend payout ratio is currently 68.75%.

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.