New York State Common Retirement Fund Lowers Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

New York State Common Retirement Fund lessened its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 14.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,600 shares of the bank’s stock after selling 20,959 shares during the period. New York State Common Retirement Fund owned approximately 0.11% of Glacier Bancorp worth $5,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GBCI. Norges Bank purchased a new position in Glacier Bancorp in the 4th quarter valued at approximately $56,923,000. Millennium Management LLC raised its position in Glacier Bancorp by 4,600.1% in the 4th quarter. Millennium Management LLC now owns 936,079 shares of the bank’s stock valued at $47,010,000 after purchasing an additional 916,163 shares in the last quarter. JPMorgan Chase & Co. raised its position in Glacier Bancorp by 76.0% in the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank’s stock valued at $28,192,000 after purchasing an additional 242,414 shares in the last quarter. Prudential Financial Inc. raised its position in Glacier Bancorp by 1,114.9% in the 4th quarter. Prudential Financial Inc. now owns 191,816 shares of the bank’s stock valued at $9,633,000 after purchasing an additional 176,028 shares in the last quarter. Finally, Peregrine Capital Management LLC acquired a new stake in Glacier Bancorp in the 1st quarter valued at about $7,754,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of GBCI opened at $45.69 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67. The stock has a market cap of $5.19 billion, a PE ratio of 27.36 and a beta of 0.77. The firm has a fifty day moving average price of $43.14 and a 200 day moving average price of $44.79.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Monday, April 28th. The bank reported $0.48 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.29 EPS. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Tuesday, July 8th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 70.97%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GBCI. 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. DA Davidson reaffirmed a “buy” rating and set a $50.00 price objective on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Raymond James Financial reissued an “outperform” rating and issued a $48.00 target price (up previously from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. Finally, Keefe, Bruyette & Woods lifted their price target on Glacier Bancorp from $50.00 to $52.00 and gave the stock a “market perform” rating in a report on Friday, June 27th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.83.

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.