Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GBCI. Piedmont Capital Management LLC raised its holdings in Glacier Bancorp by 4.5% during the 4th quarter. Piedmont Capital Management LLC now owns 5,256 shares of the bank’s stock valued at $262,000 after buying an additional 224 shares during the last quarter. Mariner LLC increased its holdings in Glacier Bancorp by 2.4% in the 4th quarter. Mariner LLC now owns 12,430 shares of the bank’s stock worth $624,000 after acquiring an additional 292 shares in the last quarter. Moody National Bank Trust Division grew its holdings in Glacier Bancorp by 1.5% during the 1st quarter. Moody National Bank Trust Division now owns 22,379 shares of the bank’s stock valued at $990,000 after buying an additional 339 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Glacier Bancorp by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 13,286 shares of the bank’s stock valued at $587,000 after buying an additional 360 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Glacier Bancorp by 8.9% in the first quarter. Blue Trust Inc. now owns 4,698 shares of the bank’s stock valued at $208,000 after purchasing an additional 382 shares in the last quarter. 80.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on GBCI shares. DA Davidson reiterated a “buy” rating and set a $50.00 price target on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Keefe, Bruyette & Woods increased their price target on Glacier Bancorp from $50.00 to $52.00 and gave the company a “market perform” rating in a research report on Friday, June 27th. Finally, Janney Montgomery Scott upgraded Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Thursday, June 5th. Three 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.83.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $45.22 on Tuesday. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $60.67. 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 has a market capitalization of $5.13 billion, a P/E ratio of 27.08 and a beta of 0.77. The company’s 50 day moving average price is $43.14 and its two-hundred day moving average price is $44.79.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, beating 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 in the prior year, the company earned $0.29 earnings per share. On average, equities analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

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

About Glacier Bancorp

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.