Townsquare Capital LLC Sells 10,528 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Townsquare Capital LLC reduced its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,255,313 shares of the bank’s stock after selling 10,528 shares during the period. Glacier Bancorp comprises approximately 0.7% of Townsquare Capital LLC’s holdings, making the stock its 26th largest position. Townsquare Capital LLC owned approximately 1.11% of Glacier Bancorp worth $57,368,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in shares of Glacier Bancorp in the second quarter worth $25,000. GAMMA Investing LLC increased its position in shares of Glacier Bancorp by 96.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock valued at $59,000 after purchasing an additional 772 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Glacier Bancorp by 44.8% in the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after buying an additional 927 shares during the last quarter. Intech Investment Management LLC bought a new stake in Glacier Bancorp during the second quarter valued at approximately $207,000. Finally, OneDigital Investment Advisors LLC bought a new stake in Glacier Bancorp during the third quarter valued at approximately $252,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GBCI has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Raymond James lifted their target price on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial upped their price target on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.20.

Glacier Bancorp Stock Down 0.9 %

Shares of GBCI opened at $58.38 on Wednesday. Glacier Bancorp, Inc. has a 12-month low of $32.00 and a 12-month high of $60.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $6.62 billion, a PE ratio of 36.35 and a beta of 0.77. The business’s 50 day moving average is $50.33 and its 200 day moving average is $43.98.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $324.28 million for the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Research analysts expect that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.26%. Glacier Bancorp’s dividend payout ratio (DPR) is 81.48%.

About Glacier Bancorp

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.