Glacier Bancorp, Inc. (NASDAQ:GBCI) Stake Boosted by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCIGet Rating) by 9.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,023 shares of the bank’s stock after purchasing an additional 272 shares during the quarter. Van ECK Associates Corp’s holdings in Glacier Bancorp were worth $149,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Glacier Bancorp by 7.8% in the first quarter. State Street Corp now owns 4,807,832 shares of the bank’s stock valued at $241,738,000 after buying an additional 346,492 shares during the last quarter. ProShare Advisors LLC lifted its stake in Glacier Bancorp by 433.4% in the second quarter. ProShare Advisors LLC now owns 203,884 shares of the bank’s stock valued at $9,670,000 after buying an additional 165,660 shares during the last quarter. Eaton Vance Management lifted its stake in Glacier Bancorp by 19.3% in the first quarter. Eaton Vance Management now owns 896,974 shares of the bank’s stock valued at $45,100,000 after buying an additional 145,421 shares during the last quarter. Vanguard Group Inc. lifted its stake in Glacier Bancorp by 0.9% in the first quarter. Vanguard Group Inc. now owns 10,944,370 shares of the bank’s stock valued at $550,283,000 after buying an additional 96,588 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Glacier Bancorp by 14.9% in the second quarter. Principal Financial Group Inc. now owns 423,474 shares of the bank’s stock valued at $20,081,000 after buying an additional 55,024 shares during the last quarter. 70.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GBCI. Truist Financial cut their target price on Glacier Bancorp from $68.00 to $62.00 in a research note on Friday, December 9th. StockNews.com lowered Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, January 10th. Finally, Stephens raised their price target on Glacier Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, October 27th.

Glacier Bancorp Price Performance

Shares of GBCI opened at $45.47 on Friday. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 18.33 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.67 and a current ratio of 0.67. Glacier Bancorp, Inc. has a one year low of $44.43 and a one year high of $59.70. The stock’s fifty day moving average is $52.55 and its 200-day moving average is $51.87.

Glacier Bancorp (NASDAQ:GBCIGet Rating) last released its earnings results on Thursday, October 20th. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The firm had revenue of $235.73 million for the quarter, compared to analyst estimates of $238.18 million. Glacier Bancorp had a return on equity of 9.31% and a net margin of 29.68%. Glacier Bancorp’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. Equities analysts anticipate that Glacier Bancorp, Inc. will post 2.74 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Tuesday, December 6th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Monday, December 5th. Glacier Bancorp’s payout ratio is currently 53.23%.

Glacier Bancorp Company Profile

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Glacier Bancorp, Inc operates as the bank 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 deposit, negotiated-rate jumbo certificates, and individual retirement accounts.

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Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

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