Comerica Bank trimmed its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,435 shares of the bank’s stock after selling 1,991 shares during the period. Comerica Bank owned about 0.06% of Glacier Bancorp worth $3,465,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GBCI. First Trust Advisors LP raised its stake in shares of Glacier Bancorp by 24.1% during the 1st quarter. First Trust Advisors LP now owns 143,721 shares of the bank’s stock worth $5,759,000 after purchasing an additional 27,945 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in Glacier Bancorp in the 3rd quarter valued at about $276,000. Resonant Capital Advisors LLC raised its stake in Glacier Bancorp by 4.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 7,119 shares of the bank’s stock valued at $328,000 after acquiring an additional 291 shares during the period. Strs Ohio raised its stake in Glacier Bancorp by 4.0% in the 4th quarter. Strs Ohio now owns 10,300 shares of the bank’s stock valued at $473,000 after acquiring an additional 400 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in Glacier Bancorp by 4.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 24,905 shares of the bank’s stock valued at $1,146,000 after acquiring an additional 1,050 shares during the period. Institutional investors own 68.09% of the company’s stock.
Shares of GBCI opened at $61.79 on Friday. The firm has a market cap of $5.90 billion, a P/E ratio of 24.23 and a beta of 1.04. The stock has a 50 day simple moving average of $59.44 and a two-hundred day simple moving average of $51.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.81. Glacier Bancorp, Inc. has a 1 year low of $30.05 and a 1 year high of $67.35.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 22nd. Shareholders of record on Tuesday, April 13th were given a $0.31 dividend. The ex-dividend date was Monday, April 12th. This represents a $1.24 annualized dividend and a yield of 2.01%. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.30. Glacier Bancorp’s payout ratio is presently 52.10%.
Several brokerages have recently commented on GBCI. Zacks Investment Research raised Glacier Bancorp from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Wednesday, April 7th. Stephens began coverage on Glacier Bancorp in a report on Friday, February 19th. They set an “equal weight” rating for the company. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $47.33.
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. 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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