Norges Bank purchased a new stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI – Free Report) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,534,204 shares of the company’s stock, valued at approximately $67,582,000.
Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Glacier Bancorp by 7.0% during 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 during the last quarter. Geode Capital Management LLC grew its stake in Glacier Bancorp by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company’s stock valued at $146,736,000 after purchasing an additional 237,316 shares during the last quarter. Cooke & Bieler LP grew its stake in Glacier Bancorp by 5.3% during the 4th quarter. Cooke & Bieler LP now owns 3,049,334 shares of the company’s stock valued at $134,323,000 after purchasing an additional 154,595 shares during the last quarter. Capital International Investors grew 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 purchasing an additional 254,514 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its stake in 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 purchasing an additional 390,366 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.
Analyst Ratings Changes
GBCI has been the topic of several research analyst reports. Stephens boosted their price target on Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Brean Capital downgraded Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. DA Davidson upped their target price on Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Janney Montgomery Scott initiated coverage on Glacier Bancorp in a research note on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 target price on the stock. Four 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’s stock. Based on data from MarketBeat, Glacier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $55.17.
Glacier Bancorp Stock Down 0.0%
Shares of GBCI opened at $47.16 on Friday. Glacier Bancorp, Inc. has a 52 week low of $39.90 and a 52 week high of $53.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 22.04 and a beta of 0.74. The stock’s 50-day moving average price is $47.37 and its 200-day moving average price is $46.56.
Glacier Bancorp (NYSE:GBCI – Get Free Report) last issued 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 firm had revenue of $309.61 million for the quarter. During the same quarter in the previous year, the company earned $0.48 EPS. On average, sell-side analysts predict that Glacier Bancorp, Inc. will post 3.16 EPS for the current year.
Glacier Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Tuesday, April 7th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.8%. Glacier Bancorp’s dividend payout ratio is presently 61.68%.
About Glacier Bancorp
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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