Bank of Montreal Can purchased a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI – Free Report) in the second quarter, Holdings Channel.com reports. The fund purchased 84,665 shares of the bank’s stock, valued at approximately $2,968,000.
A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. increased its holdings in shares of Glacier Bancorp by 2.9% in the 1st quarter. BlackRock Inc. now owns 13,765,767 shares of the bank’s stock valued at $578,300,000 after purchasing an additional 388,578 shares in the last quarter. Vanguard Group Inc. increased its holdings in Glacier Bancorp by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,281,413 shares of the bank’s stock valued at $554,256,000 after acquiring an additional 155,648 shares in the last quarter. State Street Corp increased its holdings in Glacier Bancorp by 7.8% during the 1st quarter. State Street Corp now owns 4,807,832 shares of the bank’s stock valued at $241,738,000 after acquiring an additional 346,492 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Glacier Bancorp by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,323,749 shares of the bank’s stock valued at $97,622,000 after acquiring an additional 100,095 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Glacier Bancorp by 3.0% during the 1st quarter. Geode Capital Management LLC now owns 2,231,239 shares of the bank’s stock valued at $93,734,000 after acquiring an additional 65,836 shares in the last quarter. Hedge funds and other institutional investors own 76.91% of the company’s stock.
Analyst Ratings Changes
Several research firms have weighed in on GBCI. Truist Financial raised their target price on shares of Glacier Bancorp from $31.00 to $32.00 and gave the company a “hold” rating in a report on Monday, October 23rd. Stephens restated an “equal weight” rating and set a $31.00 target price on shares of Glacier Bancorp in a report on Friday, July 21st. Piper Sandler dropped their target price on shares of Glacier Bancorp from $34.00 to $31.00 in a report on Monday, July 24th. Raymond James raised their price target on shares of Glacier Bancorp from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, August 10th. Finally, StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Glacier Bancorp presently has a consensus rating of “Hold” and a consensus target price of $33.80.
Glacier Bancorp Price Performance
Glacier Bancorp stock opened at $32.16 on Tuesday. The firm’s 50-day moving average is $29.66 and its two-hundred day moving average is $30.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.72 and a quick ratio of 0.72. Glacier Bancorp, Inc. has a 12-month low of $26.77 and a 12-month high of $59.70. The stock has a market capitalization of $3.57 billion, a P/E ratio of 14.35 and a beta of 0.80.
Glacier Bancorp (NASDAQ:GBCI – Get Free Report) last released its earnings results on Friday, October 20th. The bank reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. Glacier Bancorp had a net margin of 22.89% and a return on equity of 8.58%. The business had revenue of $295.15 million for the quarter, compared to analysts’ expectations of $197.37 million. During the same period last year, the company earned $0.72 earnings per share. Equities analysts predict that Glacier Bancorp, Inc. will post 1.89 earnings per share for the current year.
Glacier Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 19th. Investors of record on Tuesday, October 10th were given a $0.33 dividend. The ex-dividend date was Friday, October 6th. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a dividend yield of 4.11%. Glacier Bancorp’s dividend payout ratio (DPR) is currently 58.93%.
Glacier Bancorp Profile
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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