State of Alaska Department of Revenue Has $587,000 Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

State of Alaska Department of Revenue grew its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,286 shares of the bank’s stock after purchasing an additional 360 shares during the period. State of Alaska Department of Revenue’s holdings in Glacier Bancorp were worth $587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GBCI. Wood Tarver Financial Group LLC bought a new stake in Glacier Bancorp during the fourth quarter worth about $33,000. UMB Bank n.a. increased its position in Glacier Bancorp by 114.9% during the first quarter. UMB Bank n.a. now owns 838 shares of the bank’s stock worth $37,000 after buying an additional 448 shares during the last quarter. Farther Finance Advisors LLC increased its position in Glacier Bancorp by 252.1% during the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank’s stock worth $62,000 after buying an additional 1,001 shares during the last quarter. Bridge Generations Wealth Management LLC acquired a new position in Glacier Bancorp during the fourth quarter worth approximately $70,000. Finally, Smartleaf Asset Management LLC increased its position in Glacier Bancorp by 17.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank’s stock worth $144,000 after buying an additional 431 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods boosted their price target on Glacier Bancorp from $50.00 to $52.00 and gave the stock a “market perform” rating in a research report on Friday. Janney Montgomery Scott raised Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Thursday, June 5th. Raymond James Financial reissued an “outperform” rating and set a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday. Finally, DA Davidson reissued a “buy” rating and set a $50.00 price target on shares of Glacier Bancorp in a research report on Wednesday. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.83.

Glacier Bancorp Price Performance

Glacier Bancorp stock opened at $42.91 on Friday. Glacier Bancorp, Inc. has a 12 month low of $35.57 and a 12 month high of $60.67. The stock’s 50 day moving average is $41.78 and its 200-day moving average is $45.41. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 25.69 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Monday, April 28th. The bank reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same period in the prior year, the business earned $0.29 EPS. Equities research analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Tuesday, July 8th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Tuesday, July 8th. Glacier Bancorp’s dividend payout ratio is currently 70.97%.

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