CENTRAL TRUST Co Takes Position in Glacier Bancorp, Inc. $GBCI

CENTRAL TRUST Co purchased a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,200 shares of the bank’s stock, valued at approximately $594,000.

A number of other hedge funds have also added to or reduced their stakes in GBCI. Norges Bank acquired a new position in Glacier Bancorp in the 2nd quarter worth about $54,144,000. Balyasny Asset Management L.P. bought a new stake in Glacier Bancorp in the second quarter valued at approximately $24,362,000. Voya Investment Management LLC increased its position in Glacier Bancorp by 1,653.0% during the 3rd quarter. Voya Investment Management LLC now owns 540,871 shares of the bank’s stock valued at $26,324,000 after purchasing an additional 510,017 shares during the period. Lido Advisors LLC bought a new position in Glacier Bancorp during the 2nd quarter worth approximately $17,651,000. Finally, Deprince Race & Zollo Inc. boosted its position in Glacier Bancorp by 41.5% during the third quarter. Deprince Race & Zollo Inc. now owns 1,272,041 shares of the bank’s stock valued at $61,910,000 after acquiring an additional 373,196 shares during the last quarter. 80.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Raymond James Financial cut their price target on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. DA Davidson upped their price objective on shares of Glacier Bancorp from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Keefe, Bruyette & Woods reissued an “underperform” rating on shares of Glacier Bancorp in a report on Monday, January 26th. Stephens set a $58.00 target price on shares of Glacier Bancorp in a report on Monday, January 26th. Finally, Janney Montgomery Scott started coverage on shares of Glacier Bancorp in a research note on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.67.

Glacier Bancorp Stock Up 0.4%

GBCI opened at $51.28 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market cap of $6.66 billion, a PE ratio of 30.71 and a beta of 0.76. The business’s fifty day simple moving average is $47.47 and its 200 day simple moving average is $46.13. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $53.99.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%.During the same quarter in the prior year, the company earned $0.54 earnings per share. As a group, research analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.