Hsbc Holdings PLC Trims Stock Holdings in Glacier Bancorp, Inc. $GBCI

Hsbc Holdings PLC lowered its stake in Glacier Bancorp, Inc. (NYSE:GBCI) by 88.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,188 shares of the company’s stock after selling 38,265 shares during the quarter. Hsbc Holdings PLC’s holdings in Glacier Bancorp were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Glacier Bancorp by 30.9% during the first quarter. AQR Capital Management LLC now owns 31,176 shares of the company’s stock valued at $1,358,000 after purchasing an additional 7,359 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Glacier Bancorp by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the company’s stock worth $59,799,000 after purchasing an additional 73,756 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Glacier Bancorp by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the company’s stock valued at $15,587,000 after purchasing an additional 26,157 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock valued at $31,000 after purchasing an additional 490 shares during the period. Finally, First Trust Advisors LP bought a new stake in shares of Glacier Bancorp during the 2nd quarter valued at $2,011,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Up 2.3%

GBCI opened at $50.44 on Tuesday. The firm has a 50-day simple moving average of $49.93 and a two-hundred day simple moving average of $48.45. Glacier Bancorp, Inc. has a 52 week low of $39.90 and a 52 week high of $54.58. The company has a market capitalization of $6.56 billion, a PE ratio of 20.67 and a beta of 0.74. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06.

Glacier Bancorp (NYSE:GBCI) last issued its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. The firm had revenue of $320.94 million for the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same period last year, the firm posted $0.57 earnings per share. Analysts forecast that Glacier Bancorp, Inc. will post 3.15 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.6%. Glacier Bancorp’s payout ratio is presently 54.10%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GBCI shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Glacier Bancorp in a report on Monday, July 20th. Piper Sandler raised their price target on Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, April 27th. DA Davidson restated a “buy” rating and issued a $58.00 price objective on shares of Glacier Bancorp in a research report on Monday, July 27th. Finally, Stephens upped their price objective on Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.17.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.