Envestnet Asset Management Inc. Raises Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Envestnet Asset Management Inc. lifted its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,263 shares of the bank’s stock after acquiring an additional 6,806 shares during the quarter. Envestnet Asset Management Inc. owned 0.17% of Glacier Bancorp worth $8,369,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GBCI. Wood Tarver Financial Group LLC bought a new stake in Glacier Bancorp during the 4th quarter valued at $33,000. JNBA Financial Advisors bought a new stake in shares of Glacier Bancorp in the 1st quarter worth $35,000. UMB Bank n.a. raised its stake in shares of Glacier Bancorp by 114.9% in the 1st quarter. UMB Bank n.a. now owns 838 shares of the bank’s stock worth $37,000 after buying an additional 448 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Glacier Bancorp by 252.1% in the 1st 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 in the last quarter. Finally, Bridge Generations Wealth Management LLC bought a new stake in shares of Glacier Bancorp in the 4th quarter worth $70,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Stock Down 1.1%

Shares of NASDAQ:GBCI opened at $45.22 on Tuesday. The company has a fifty day moving average of $43.14 and a 200-day moving average of $44.79. The company has a market capitalization of $5.13 billion, a PE ratio of 27.08 and a beta of 0.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp, Inc. has a 52-week low of $36.76 and a 52-week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last announced its 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 return on equity of 5.98% and a net margin of 14.99%. During the same quarter last year, the company posted $0.29 earnings per share. On average, equities analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.92%. Glacier Bancorp’s payout ratio is currently 70.97%.

Analyst Upgrades and Downgrades

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

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.