Principal Financial Group Inc. Has $12.95 Million Stake in Glacier Bancorp, Inc. $GBCI

Principal Financial Group Inc. increased its holdings in shares of Glacier Bancorp, Inc. (NYSE:GBCI) by 3.9% during the first quarter, Holdings Channel reports. The fund owned 289,928 shares of the company’s stock after purchasing an additional 10,862 shares during the period. Principal Financial Group Inc.’s holdings in Glacier Bancorp were worth $12,951,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Front Street Capital Management Inc. grew its holdings in Glacier Bancorp by 1.1% during the 4th quarter. Front Street Capital Management Inc. now owns 19,335 shares of the company’s stock worth $852,000 after acquiring an additional 213 shares during the period. 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 during the period. Global Retirement Partners LLC lifted its holdings in Glacier Bancorp by 41.2% during the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after acquiring an additional 223 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position 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 purchasing an additional 225 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Glacier Bancorp by 9.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,706 shares of the company’s stock valued at $163,000 after acquiring an additional 306 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GBCI shares. DA Davidson upped their price target on Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Piper Sandler lifted their price objective on shares of Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Stephens boosted their price objective on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Glacier Bancorp in a report on Monday. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.17.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $50.32 on Friday. The firm has a 50-day moving average of $49.70 and a 200-day moving average of $48.33. Glacier Bancorp, Inc. has a one year low of $39.90 and a one year high of $54.58. The company has a market cap of $6.55 billion, a PE ratio of 20.62 and a beta of 0.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.83.

Glacier Bancorp (NYSE:GBCI) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. The company had revenue of $320.94 million for the quarter. Glacier Bancorp had a net margin of 19.72% and a return on equity of 8.12%. During the same quarter in the prior year, the firm earned $0.57 earnings per share. As a group, equities 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 declared a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp’s payout ratio is 61.68%.

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.