GW&K Investment Management LLC grew its holdings in Glacier Bancorp, Inc. (NYSE:GBCI – Free Report) by 15.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,332,461 shares of the company’s stock after acquiring an additional 181,903 shares during the period. GW&K Investment Management LLC owned about 1.03% of Glacier Bancorp worth $58,695,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in Glacier Bancorp during the 4th quarter worth about $67,582,000. Vanguard Group Inc. raised its position in Glacier Bancorp by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock valued at $588,471,000 after purchasing an additional 870,335 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Glacier Bancorp in the 2nd quarter valued at about $24,362,000. Bank of America Corp DE grew its position in shares of Glacier Bancorp by 113.0% during the third quarter. Bank of America Corp DE now owns 872,117 shares of the company’s stock worth $42,446,000 after buying an additional 462,711 shares in the last quarter. Finally, Deprince Race & Zollo Inc. grew its position in shares of Glacier Bancorp by 30.7% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company’s stock worth $73,229,000 after buying an additional 390,366 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on GBCI. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. Stephens boosted their price target on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Brean Capital lowered shares of Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. DA Davidson lifted their price objective on shares of Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Janney Montgomery Scott started coverage on shares of Glacier Bancorp in a research note on Tuesday, February 10th. They set a “neutral” rating and a $55.00 target price for the company. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Glacier Bancorp presently has an average rating of “Hold” and an average price target of $55.17.
Glacier Bancorp Price Performance
Shares of GBCI opened at $47.76 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.83. Glacier Bancorp, Inc. has a 1-year low of $39.90 and a 1-year high of $53.99. The stock has a market cap of $6.22 billion, a PE ratio of 22.32 and a beta of 0.74. The firm has a fifty day moving average price of $47.51 and a 200 day moving average price of $46.71.
Glacier Bancorp (NYSE:GBCI – Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.The business had revenue of $309.61 million for the quarter. During the same quarter last year, the firm posted $0.48 EPS. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 3.16 EPS for the current year.
Glacier Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Tuesday, April 7th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $1.32 annualized dividend and a yield of 2.8%. Glacier Bancorp’s payout ratio is 61.68%.
Glacier Bancorp Profile
Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.
Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.
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