State of Alaska Department of Revenue grew its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6.0% in the third quarter, HoldingsChannel.com reports. The fund owned 27,527 shares of the bank’s stock after purchasing an additional 1,555 shares during the period. State of Alaska Department of Revenue’s holdings in Glacier Bancorp were worth $1,186,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of GBCI. BlackRock Inc. lifted its position in shares of Glacier Bancorp by 9.6% during the 2nd quarter. BlackRock Inc. now owns 11,832,235 shares of the bank’s stock valued at $457,672,000 after acquiring an additional 1,032,929 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of Glacier Bancorp during the 2nd quarter valued at approximately $28,939,000. Carillon Tower Advisers Inc. acquired a new stake in shares of Glacier Bancorp during the 2nd quarter valued at approximately $26,929,000. Segall Bryant & Hamill LLC purchased a new position in shares of Glacier Bancorp during the 2nd quarter worth approximately $22,081,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Glacier Bancorp by 864.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 323,712 shares of the bank’s stock worth $12,521,000 after purchasing an additional 290,150 shares in the last quarter. Institutional investors own 81.47% of the company’s stock.
A number of research analysts have recently weighed in on GBCI shares. BidaskClub raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, June 23rd. Zacks Investment Research raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Wednesday, June 27th. Sandler O’Neill reissued a “hold” rating and set a $44.00 price objective on shares of Glacier Bancorp in a research note on Friday, July 20th. ValuEngine raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $44.00 price objective on shares of Glacier Bancorp in a research note on Monday, July 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Glacier Bancorp presently has a consensus rating of “Hold” and an average target price of $43.50.
Shares of GBCI opened at $41.36 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.84. Glacier Bancorp, Inc. has a 1-year low of $35.50 and a 1-year high of $46.28. The company has a market cap of $3.48 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.87 and a beta of 1.44.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, October 18th. The bank reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.02). Glacier Bancorp had a return on equity of 12.21% and a net margin of 26.36%. The business had revenue of $146.16 million for the quarter, compared to analysts’ expectations of $144.01 million. As a group, sell-side analysts expect that Glacier Bancorp, Inc. will post 2.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 18th. Stockholders of record on Tuesday, October 9th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, October 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.51%. Glacier Bancorp’s dividend payout ratio (DPR) is 59.43%.
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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