Quantinno Capital Management LP raised its stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI – Free Report) by 1,293.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 257,296 shares of the company’s stock after acquiring an additional 238,833 shares during the quarter. Quantinno Capital Management LP owned approximately 0.20% of Glacier Bancorp worth $11,493,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. lifted its stake in shares of Glacier Bancorp by 33.9% during the 1st quarter. Assetmark Inc. now owns 813 shares of the company’s stock worth $36,000 after purchasing an additional 206 shares during the last quarter. Front Street Capital Management Inc. raised its holdings in Glacier Bancorp by 1.1% in the fourth quarter. Front Street Capital Management Inc. now owns 19,335 shares of the company’s stock worth $852,000 after purchasing an additional 213 shares in the last quarter. MML Investors Services LLC raised its holdings in Glacier Bancorp by 4.6% in the fourth quarter. MML Investors Services LLC now owns 5,047 shares of the company’s stock worth $222,000 after purchasing an additional 221 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Glacier Bancorp by 41.2% during the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock valued at $34,000 after buying an additional 223 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Glacier Bancorp by 1.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 19,413 shares of the company’s stock valued at $855,000 after buying an additional 225 shares in the last quarter. 80.17% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Stephens boosted their price target on Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Glacier Bancorp in a research report on Monday, July 20th. Piper Sandler boosted their target price 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. Finally, DA Davidson reissued a “buy” rating and set a $58.00 target price on shares of Glacier Bancorp in a research report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.17.
Glacier Bancorp Stock Up 2.3%
GBCI stock opened at $50.44 on Tuesday. The company has a market capitalization of $6.56 billion, a P/E ratio of 20.67 and a beta of 0.74. Glacier Bancorp, Inc. has a 12 month low of $39.90 and a 12 month high of $54.58. The firm’s fifty day simple moving average is $49.93 and its 200-day simple moving average is $48.45. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84.
Glacier Bancorp (NYSE:GBCI – Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. The firm had revenue of $320.94 million during the quarter. During the same period last year, the business earned $0.57 EPS. As a group, equities research analysts forecast that Glacier Bancorp, Inc. will post 3.15 earnings per share for the current year.
Glacier Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp’s payout ratio is 54.10%.
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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