Rhumbline Advisers decreased its position in shares of Glacier Bancorp (NASDAQ:GBCI) by 3.4% during the 1st quarter, Holdings Channel reports. The fund owned 202,811 shares of the bank’s stock after selling 7,153 shares during the quarter. Rhumbline Advisers’ holdings in Glacier Bancorp were worth $7,784,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in GBCI. Louisiana State Employees Retirement System boosted its stake in Glacier Bancorp by 6.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 33,600 shares of the bank’s stock worth $1,324,000 after acquiring an additional 2,000 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Glacier Bancorp by 8.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 454,718 shares of the bank’s stock worth $17,912,000 after acquiring an additional 33,584 shares during the last quarter. TRUE Private Wealth Advisors boosted its stake in Glacier Bancorp by 51.2% during the 4th quarter. TRUE Private Wealth Advisors now owns 21,716 shares of the bank’s stock worth $855,000 after acquiring an additional 7,355 shares during the last quarter. GW&K Investment Management LLC boosted its stake in Glacier Bancorp by 7.0% during the 4th quarter. GW&K Investment Management LLC now owns 1,308,244 shares of the bank’s stock worth $51,532,000 after acquiring an additional 85,261 shares during the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Glacier Bancorp during the 4th quarter worth approximately $423,000. 76.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of GBCI stock opened at $39.37 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 1.83 and a beta of 1.32. Glacier Bancorp has a 52 week low of $31.38 and a 52 week high of $41.24.
Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, April 19th. The bank reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). The company had revenue of $121.38 million for the quarter, compared to analyst estimates of $129.25 million. Glacier Bancorp had a return on equity of 11.31% and a net margin of 24.58%. During the same quarter last year, the business posted $0.41 earnings per share. analysts forecast that Glacier Bancorp will post 2.16 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 19th. Shareholders of record on Tuesday, April 10th were issued a dividend of $0.23 per share. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Monday, April 9th. Glacier Bancorp’s dividend payout ratio (DPR) is 52.57%.
Several research firms recently weighed in on GBCI. BidaskClub raised shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd. ValuEngine raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Zacks Investment Research lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Sandler O’Neill reissued a “hold” rating and set a $41.00 price objective on shares of Glacier Bancorp in a research note on Thursday, March 29th. Finally, DA Davidson reduced their price objective on shares of Glacier Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, April 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.00.
In other Glacier Bancorp news, Director James M. English sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $41.01, for a total transaction of $205,050.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.42% of the company’s stock.
About Glacier Bancorp
Glacier Bancorp, Inc operates as the 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 deposit products, including non-interest bearing deposits, interest bearing negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.
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