16,578 Shares in Glacier Bancorp, Inc. (NASDAQ:GBCI) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 16,578 shares of the bank’s stock, valued at approximately $733,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. JNBA Financial Advisors acquired a new stake in shares of Glacier Bancorp in the first quarter valued at approximately $35,000. Peregrine Capital Management LLC bought a new position in Glacier Bancorp in the 1st quarter worth approximately $7,754,000. Bessemer Group Inc. increased its position in Glacier Bancorp by 1,839.2% in the 1st quarter. Bessemer Group Inc. now owns 9,599 shares of the bank’s stock valued at $424,000 after acquiring an additional 9,104 shares during the period. First American Bank increased its position in Glacier Bancorp by 1.5% in the 1st quarter. First American Bank now owns 32,976 shares of the bank’s stock valued at $1,458,000 after acquiring an additional 477 shares during the period. Finally, Blue Trust Inc. raised its stake in Glacier Bancorp by 8.9% during the 1st quarter. Blue Trust Inc. now owns 4,698 shares of the bank’s stock valued at $208,000 after acquiring an additional 382 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GBCI has been the topic of a number of research analyst reports. 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 report on Thursday, June 5th. Keefe, Bruyette & Woods upped their price target on shares of Glacier Bancorp from $50.00 to $52.00 and gave the stock a “market perform” rating in a research note on Friday, June 27th. DA Davidson reiterated a “buy” rating and issued a $50.00 price objective on shares of Glacier Bancorp in a report on Wednesday, June 25th. Finally, Raymond James Financial reissued an “outperform” rating and set a $48.00 target price (up previously from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.83.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $44.34 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50 day moving average is $42.92 and its 200-day moving average is $44.92. Glacier Bancorp, Inc. has a 12-month low of $36.76 and a 12-month high of $60.67. The stock has a market capitalization of $5.03 billion, a P/E ratio of 26.55 and a beta of 0.77.

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

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Tuesday, July 8th. Glacier Bancorp’s dividend payout ratio is 70.97%.

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