Dearborn Partners LLC increased its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 612,679 shares of the bank’s stock after buying an additional 89,658 shares during the period. Dearborn Partners LLC owned about 0.66% of Glacier Bancorp worth $28,177,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC purchased a new stake in shares of Glacier Bancorp in the second quarter valued at about $15,740,000. Morgan Stanley lifted its holdings in shares of Glacier Bancorp by 94.6% in the second quarter. Morgan Stanley now owns 461,971 shares of the bank’s stock valued at $18,733,000 after purchasing an additional 224,556 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Glacier Bancorp by 10.4% in the third quarter. GW&K Investment Management LLC now owns 1,394,912 shares of the bank’s stock valued at $56,438,000 after purchasing an additional 130,966 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Glacier Bancorp by 45.8% in the third quarter. California Public Employees Retirement System now owns 181,974 shares of the bank’s stock valued at $7,363,000 after purchasing an additional 57,162 shares in the last quarter. Finally, Loveless Wealth Management LLC purchased a new stake in shares of Glacier Bancorp in the fourth quarter valued at about $2,269,000. 73.53% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:GBCI opened at $43.30 on Wednesday. The firm has a 50 day simple moving average of $45.12 and a 200-day simple moving average of $42.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market cap of $4.06 billion, a PE ratio of 18.19 and a beta of 1.18. Glacier Bancorp, Inc. has a 1-year low of $37.58 and a 1-year high of $46.51.
Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $164.87 million during the quarter, compared to analyst estimates of $161.50 million. Glacier Bancorp had a net margin of 31.10% and a return on equity of 12.30%. As a group, sell-side analysts expect that Glacier Bancorp, Inc. will post 2.43 earnings per share for the current fiscal year.
The company also recently disclosed a None dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, January 7th were given a $0.20 dividend. The ex-dividend date was Monday, January 6th. Glacier Bancorp’s dividend payout ratio is presently 48.74%.
Several brokerages have issued reports on GBCI. Zacks Investment Research downgraded shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Monday, January 6th. ValuEngine lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. BidaskClub lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 10th. Stephens set a $40.00 price objective on shares of Glacier Bancorp and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, DA Davidson reissued a “neutral” rating and issued a $48.00 price objective on shares of Glacier Bancorp in a research report on Tuesday, December 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Glacier Bancorp currently has a consensus rating of “Hold” and a consensus price target of $45.00.
Glacier Bancorp Company Profile
Glacier Bancorp, Inc operates as the holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.
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