Bridge City Capital LLC Purchases 28,467 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Bridge City Capital LLC grew its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 44.8% in the second quarter, HoldingsChannel reports. The fund owned 92,047 shares of the bank’s stock after acquiring an additional 28,467 shares during the period. Glacier Bancorp makes up 1.4% of Bridge City Capital LLC’s portfolio, making the stock its 25th largest position. Bridge City Capital LLC’s holdings in Glacier Bancorp were worth $2,869,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Captrust Financial Advisors boosted its holdings in Glacier Bancorp by 3.3% during the fourth quarter. Captrust Financial Advisors now owns 8,427 shares of the bank’s stock worth $416,000 after purchasing an additional 269 shares during the last quarter. US Bancorp DE increased its position in shares of Glacier Bancorp by 2.9% in the first quarter. US Bancorp DE now owns 11,115 shares of the bank’s stock valued at $559,000 after acquiring an additional 308 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Glacier Bancorp by 2.0% in the second quarter. PNC Financial Services Group Inc. now owns 17,010 shares of the bank’s stock valued at $530,000 after acquiring an additional 333 shares during the last quarter. Signaturefd LLC increased its position in shares of Glacier Bancorp by 14.8% in the second quarter. Signaturefd LLC now owns 2,859 shares of the bank’s stock valued at $89,000 after acquiring an additional 368 shares during the last quarter. Finally, Mariner LLC increased its position in shares of Glacier Bancorp by 2.9% in the first quarter. Mariner LLC now owns 13,763 shares of the bank’s stock valued at $692,000 after acquiring an additional 382 shares during the last quarter. 76.91% of the stock is owned by institutional investors.

Glacier Bancorp Price Performance

Glacier Bancorp stock traded up $0.10 during trading hours on Friday, reaching $33.68. 528,582 shares of the stock were exchanged, compared to its average volume of 695,758. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.73 billion, a P/E ratio of 15.04 and a beta of 0.80. The stock has a 50 day moving average of $30.07 and a two-hundred day moving average of $30.96. Glacier Bancorp, Inc. has a twelve month low of $26.77 and a twelve month high of $58.84.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Friday, October 20th. The bank reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. The business had revenue of $295.15 million for the quarter, compared to analyst estimates of $197.37 million. Glacier Bancorp had a net margin of 22.89% and a return on equity of 8.58%. During the same quarter last year, the business posted $0.72 EPS. Equities analysts expect that Glacier Bancorp, Inc. will post 1.92 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Tuesday, December 5th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Monday, December 4th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 58.93%.

Analyst Upgrades and Downgrades

GBCI has been the topic of a number of recent analyst reports. Raymond James boosted their target price on shares of Glacier Bancorp from $34.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, August 10th. Piper Sandler lowered their price objective on shares of Glacier Bancorp from $34.00 to $31.00 in a research note on Monday, July 24th. DA Davidson boosted their price target on Glacier Bancorp from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Truist Financial boosted their price target on Glacier Bancorp from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, October 23rd. Finally, StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.80.

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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposit, negotiated-rate jumbo certificates, and individual retirement accounts.