Soltis Investment Advisors LLC Decreases Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Soltis Investment Advisors LLC decreased its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 8.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 117,383 shares of the bank’s stock after selling 10,302 shares during the period. Soltis Investment Advisors LLC’s holdings in Glacier Bancorp were worth $5,895,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Glacier Bancorp by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock worth $132,662,000 after purchasing an additional 41,160 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Glacier Bancorp by 19.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after acquiring an additional 280,255 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Glacier Bancorp by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock worth $74,402,000 after acquiring an additional 49,006 shares during the last quarter. Victory Capital Management Inc. lifted its position in Glacier Bancorp by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock worth $70,134,000 after acquiring an additional 6,394 shares during the period. Finally, Port Capital LLC grew its stake in Glacier Bancorp by 0.3% during the 3rd quarter. Port Capital LLC now owns 659,913 shares of the bank’s stock valued at $30,158,000 after purchasing an additional 1,850 shares during the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Price Performance

Glacier Bancorp stock opened at $50.79 on Monday. The stock has a market capitalization of $5.76 billion, a P/E ratio of 30.37 and a beta of 0.80. The company’s fifty day moving average price is $51.56 and its 200 day moving average price is $49.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp, Inc. has a 1 year low of $34.35 and a 1 year high of $60.67.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were issued a $0.33 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $1.32 dividend on an annualized basis and a yield of 2.60%. Glacier Bancorp’s payout ratio is currently 79.04%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial lifted their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods increased their price objective on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Raymond James reaffirmed an “outperform” rating and set a $55.00 price target (up from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. Stephens raised Glacier Bancorp from an “equal weight” rating to an “overweight” rating in a report on Friday. Finally, Piper Sandler reduced their price target on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Glacier Bancorp currently has a consensus rating of “Hold” and an average target price of $51.50.

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.