Retirement Systems of Alabama Boosts Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Retirement Systems of Alabama boosted its position in Glacier Bancorp, Inc. (NASDAQ:GBCIFree Report) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,241 shares of the bank’s stock after buying an additional 370 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Glacier Bancorp worth $5,609,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GBCI. Mariner LLC grew its position in Glacier Bancorp by 4.0% in the 3rd quarter. Mariner LLC now owns 18,236 shares of the bank’s stock valued at $520,000 after buying an additional 705 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Glacier Bancorp by 204.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 19,302 shares of the bank’s stock valued at $550,000 after buying an additional 12,962 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in Glacier Bancorp in the 3rd quarter valued at $2,992,000. Tudor Investment Corp Et Al boosted its position in shares of Glacier Bancorp by 536.2% during the 3rd quarter. Tudor Investment Corp Et Al now owns 112,033 shares of the bank’s stock worth $3,193,000 after purchasing an additional 94,422 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Glacier Bancorp by 93.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 37,911 shares of the bank’s stock worth $1,081,000 after purchasing an additional 18,292 shares in the last quarter. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on GBCI. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research report on Thursday, June 6th. Truist Financial decreased their target price on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. DA Davidson decreased their target price on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Stephens decreased their target price on shares of Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.40.

View Our Latest Analysis on Glacier Bancorp

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $36.46 on Friday. Glacier Bancorp, Inc. has a 52 week low of $26.83 and a 52 week high of $44.06. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 20.99 and a beta of 0.81. The company’s 50-day moving average price is $37.09 and its 200 day moving average price is $38.20.

Glacier Bancorp (NASDAQ:GBCIGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.51% and a net margin of 16.40%. The company had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same period in the previous year, the business posted $0.55 EPS. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. As a group, research analysts forecast that Glacier Bancorp, Inc. will post 1.64 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Tuesday, July 9th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.62%. The ex-dividend date is Tuesday, July 9th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

Glacier Bancorp Profile

(Free Report)

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. The company offers retail banking, business banking, and mortgage origination and loan servicing services.

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

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