State of New Jersey Common Pension Fund D Reduces Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 7.3% in the fourth quarter, HoldingsChannel reports. The firm owned 77,095 shares of the bank’s stock after selling 6,036 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Glacier Bancorp were worth $3,186,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. GAMMA Investing LLC acquired a new stake in Glacier Bancorp during the fourth quarter worth approximately $25,000. Stockman Wealth Management Inc. acquired a new stake in Glacier Bancorp during the fourth quarter worth approximately $202,000. CWM LLC boosted its position in Glacier Bancorp by 3.5% during the fourth quarter. CWM LLC now owns 35,533 shares of the bank’s stock worth $1,468,000 after acquiring an additional 1,214 shares during the last quarter. Signaturefd LLC boosted its position in Glacier Bancorp by 51.9% during the fourth quarter. Signaturefd LLC now owns 3,727 shares of the bank’s stock worth $154,000 after acquiring an additional 1,274 shares during the last quarter. Finally, Cooke & Bieler LP boosted its position in Glacier Bancorp by 34.0% during the fourth quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock worth $133,847,000 after acquiring an additional 821,199 shares during the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Down 0.7 %

Shares of GBCI opened at $37.12 on Friday. The firm has a market cap of $4.21 billion, a PE ratio of 21.21 and a beta of 0.80. The company’s fifty day moving average is $37.88 and its two-hundred day moving average is $36.93. Glacier Bancorp, Inc. has a fifty-two week low of $26.77 and a fifty-two week high of $44.06. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.76.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results 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 company had revenue of $196.47 million during the quarter, compared to analyst estimates of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 EPS. Analysts forecast that Glacier Bancorp, Inc. will post 1.68 earnings per share for the current year.

Glacier Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GBCI. Truist Financial decreased their target price on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Raymond James raised their target price on shares of Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Stephens decreased their target price on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. Finally, DA Davidson decreased their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.40.

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.