Madison Asset Management LLC Sells 57,083 Shares of Glacier Bancorp, Inc. $GBCI

Madison Asset Management LLC decreased its position in Glacier Bancorp, Inc. (NYSE:GBCI) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 987,362 shares of the company’s stock after selling 57,083 shares during the period. Madison Asset Management LLC’s holdings in Glacier Bancorp were worth $43,493,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GBCI. Vanguard Group Inc. raised its holdings in Glacier Bancorp by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock worth $588,471,000 after purchasing an additional 870,335 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Glacier Bancorp in the 2nd quarter valued at about $24,362,000. Bank of America Corp DE boosted its stake in shares of Glacier Bancorp by 113.0% in the 3rd quarter. Bank of America Corp DE now owns 872,117 shares of the company’s stock valued at $42,446,000 after purchasing an additional 462,711 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in shares of Glacier Bancorp by 30.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company’s stock worth $73,229,000 after buying an additional 390,366 shares during the period. Finally, Freestone Grove Partners LP raised its stake in shares of Glacier Bancorp by 24.8% during the third quarter. Freestone Grove Partners LP now owns 1,385,589 shares of the company’s stock worth $67,437,000 after buying an additional 275,209 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GBCI. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Stephens upped their target price on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Brean Capital downgraded Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Keefe, Bruyette & Woods restated an “underperform” rating on shares of Glacier Bancorp in a research report on Monday, January 26th. Finally, Janney Montgomery Scott started coverage on Glacier Bancorp in a research note on Tuesday, February 10th. They set a “neutral” rating and a $55.00 price objective for the company. 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, Glacier Bancorp currently has an average rating of “Hold” and an average target price of $55.17.

Glacier Bancorp Stock Down 1.3%

Shares of NYSE:GBCI opened at $46.64 on Wednesday. The company has a 50 day moving average price of $46.32 and a two-hundred day moving average price of $45.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $6.07 billion, a PE ratio of 21.79 and a beta of 0.76. Glacier Bancorp, Inc. has a 52 week low of $39.90 and a 52 week high of $53.99.

Glacier Bancorp (NYSE:GBCI) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. The company had revenue of $309.61 million for the quarter. During the same period in the prior year, the business earned $0.48 earnings per share. Analysts forecast that Glacier Bancorp, Inc. will post 3.16 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Tuesday, April 7th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, April 7th. This represents a $1.32 annualized dividend and a yield of 2.8%. Glacier Bancorp’s payout ratio is currently 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.