Peregrine Capital Management LLC Raises Position in Glacier Bancorp, Inc. $GBCI

Peregrine Capital Management LLC grew its position in shares of Glacier Bancorp, Inc. (NYSE:GBCI) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 256,997 shares of the company’s stock after buying an additional 25,476 shares during the quarter. Peregrine Capital Management LLC owned 0.20% of Glacier Bancorp worth $11,321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GBCI. Vanguard Group Inc. increased its holdings in shares of Glacier Bancorp by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,488,822 shares of the company’s stock worth $607,831,000 after purchasing an additional 419,849 shares in the last quarter. Capital International Investors lifted its stake in Glacier Bancorp by 17.1% during the 3rd quarter. Capital International Investors now owns 1,742,780 shares of the company’s stock valued at $84,821,000 after acquiring an additional 254,514 shares during the period. Deprince Race & Zollo Inc. boosted its holdings in shares of Glacier Bancorp by 30.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company’s stock valued at $73,229,000 after acquiring an additional 390,366 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Glacier Bancorp by 1.0% during the third quarter. Northern Trust Corp now owns 1,657,366 shares of the company’s stock valued at $80,664,000 after purchasing an additional 16,646 shares during the last quarter. Finally, Freestone Grove Partners LP lifted its position in Glacier Bancorp by 24.8% during the third quarter. Freestone Grove Partners LP now owns 1,385,589 shares of the company’s stock valued at $67,437,000 after purchasing an additional 275,209 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GBCI shares. Wall Street Zen upgraded shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Brean Capital lowered Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Piper Sandler set a $59.00 price objective on Glacier Bancorp and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Glacier Bancorp in a report on Monday, December 29th. Finally, Janney Montgomery Scott assumed coverage on Glacier Bancorp in a research report on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.67.

Glacier Bancorp Stock Performance

Shares of GBCI stock traded up $0.33 during mid-day trading on Thursday, reaching $49.19. 58,944 shares of the company’s stock traded hands, compared to its average volume of 1,011,883. Glacier Bancorp, Inc. has a 12 month low of $39.77 and a 12 month high of $53.99. The firm has a 50 day moving average price of $46.51 and a two-hundred day moving average price of $45.75. The firm has a market capitalization of $6.40 billion, a PE ratio of 24.65 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.82 and a current ratio of 0.83.

Glacier Bancorp (NYSE:GBCI) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a net margin of 16.63% and a return on equity of 6.68%. During the same period in the prior year, the business posted $0.54 EPS. On average, research analysts forecast that Glacier Bancorp, Inc. will post 3.17 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Tuesday, April 7th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, April 7th. Glacier Bancorp’s dividend payout ratio is currently 66.33%.

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.