Envestnet Asset Management Inc. lessened its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 331,455 shares of the bank’s stock after selling 3,938 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.42% of Glacier Bancorp worth $12,517,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LS Investment Advisors LLC lifted its stake in shares of Glacier Bancorp by 4.9% in the 2nd quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock valued at $105,000 after purchasing an additional 134 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Glacier Bancorp by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock valued at $116,000 after purchasing an additional 283 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Glacier Bancorp by 34.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock valued at $135,000 after purchasing an additional 947 shares during the period. Advisor Group Inc. lifted its stake in shares of Glacier Bancorp by 23.7% in the 2nd quarter. Advisor Group Inc. now owns 3,884 shares of the bank’s stock valued at $142,000 after purchasing an additional 744 shares during the period. Finally, Fiduciary Trust Co. purchased a new position in shares of Glacier Bancorp in the 2nd quarter valued at approximately $183,000. Institutional investors own 84.40% of the company’s stock.
GBCI has been the subject of a number of research analyst reports. Zacks Investment Research cut Glacier Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Piper Jaffray Companies set a $38.00 target price on Glacier Bancorp and gave the company a “hold” rating in a research note on Saturday, October 21st. SunTrust Banks set a $41.00 target price on Glacier Bancorp and gave the company a “buy” rating in a research note on Saturday, October 21st. Keefe, Bruyette & Woods set a $36.00 target price on Glacier Bancorp and gave the company a “hold” rating in a research note on Monday, August 28th. Finally, BidaskClub upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $38.67.
In other Glacier Bancorp news, Director Michael J. Blodnick sold 45,060 shares of Glacier Bancorp stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $37.88, for a total transaction of $1,706,872.80. Following the completion of the transaction, the director now owns 27,576 shares in the company, valued at $1,044,578.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is currently owned by insiders.
Glacier Bancorp, Inc. (NASDAQ GBCI) opened at $38.55 on Thursday. The stock has a market capitalization of $3,034.47, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 2.20 and a beta of 1.45. Glacier Bancorp, Inc. has a one year low of $31.38 and a one year high of $41.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.81 and a current ratio of 0.81.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.47 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.47. The business had revenue of $120.00 million during the quarter, compared to analysts’ expectations of $121.07 million. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. equities research analysts forecast that Glacier Bancorp, Inc. will post 1.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Tuesday, December 5th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Monday, December 4th. Glacier Bancorp’s payout ratio is 48.84%.
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Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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