Deprince Race & Zollo Inc. grew its stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI – Free Report) by 13.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,885,725 shares of the company’s stock after buying an additional 223,318 shares during the quarter. Glacier Bancorp comprises 1.6% of Deprince Race & Zollo Inc.’s holdings, making the stock its 4th biggest position. Deprince Race & Zollo Inc.’s holdings in Glacier Bancorp were worth $84,235,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in GBCI. Norges Bank bought a new stake in Glacier Bancorp in the fourth quarter worth about $67,582,000. Vanguard Group Inc. lifted its holdings in shares of Glacier Bancorp by 7.0% during the fourth 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. Vaughan Nelson Investment Management L.P. acquired a new stake in Glacier Bancorp during the 1st quarter worth about $33,197,000. Balyasny Asset Management L.P. purchased a new stake in Glacier Bancorp during the second quarter valued at about $24,362,000. Finally, State Street Corp lifted its stake in Glacier Bancorp by 9.9% during the fourth quarter. State Street Corp now owns 6,178,363 shares of the company’s stock valued at $272,157,000 after buying an additional 557,873 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.
Glacier Bancorp Stock Up 2.3%
GBCI stock opened at $52.77 on Thursday. The company has a 50 day moving average of $48.46 and a two-hundred day moving average of $47.52. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 24.66 and a beta of 0.72. Glacier Bancorp, Inc. has a 12-month low of $39.90 and a 12-month 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.
Glacier Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio is presently 61.68%.
Wall Street Analysts Forecast Growth
GBCI has been the topic of several research analyst reports. Piper Sandler lifted their price objective on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Stephens raised their target price on Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. Finally, DA Davidson upped their price target on Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Four investment 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.com, Glacier Bancorp presently has an average rating of “Hold” and a consensus price target of $55.17.
View Our Latest Research Report on Glacier Bancorp
Glacier Bancorp Company 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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