Fisher Asset Management LLC lessened its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 5.5% in the first quarter, Holdings Channel reports. The institutional investor owned 528,223 shares of the bank’s stock after selling 30,744 shares during the period. Fisher Asset Management LLC’s holdings in Glacier Bancorp were worth $30,151,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of GBCI. BlackRock Inc. increased its holdings in shares of Glacier Bancorp by 4.6% in the 4th quarter. BlackRock Inc. now owns 11,530,081 shares of the bank’s stock worth $530,499,000 after purchasing an additional 511,842 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Glacier Bancorp by 0.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,930,877 shares of the bank’s stock worth $88,840,000 after purchasing an additional 6,341 shares in the last quarter. Norges Bank bought a new stake in shares of Glacier Bancorp in the 4th quarter worth $53,453,000. Eaton Vance Management increased its holdings in shares of Glacier Bancorp by 41.6% in the 4th quarter. Eaton Vance Management now owns 1,000,306 shares of the bank’s stock worth $46,024,000 after purchasing an additional 293,689 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Glacier Bancorp by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 830,142 shares of the bank’s stock worth $38,195,000 after purchasing an additional 8,689 shares in the last quarter. 68.09% of the stock is owned by institutional investors.
A number of research firms have commented on GBCI. Stephens began coverage on Glacier Bancorp in a report on Friday, February 19th. They issued an “equal weight” rating for the company. Zacks Investment Research upgraded Glacier Bancorp from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, April 7th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Glacier Bancorp presently has a consensus rating of “Buy” and an average price target of $47.33.
GBCI stock opened at $59.76 on Tuesday. The company has a market cap of $5.71 billion, a P/E ratio of 23.44 and a beta of 1.04. Glacier Bancorp, Inc. has a 1 year low of $30.05 and a 1 year high of $67.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.81. The stock’s fifty day moving average price is $59.59 and its 200-day moving average price is $49.88.
Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Wednesday, April 21st. The bank reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.10. Glacier Bancorp had a return on equity of 11.31% and a net margin of 31.94%. As a group, analysts expect that Glacier Bancorp, Inc. will post 2.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 22nd. Investors of record on Tuesday, April 13th were given a dividend of $0.31 per share. The ex-dividend date was Monday, April 12th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 2.07%. Glacier Bancorp’s payout ratio is 52.10%.
Glacier Bancorp 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 deposits, negotiated-rate jumbo certificates, and individual retirement accounts.
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