Vanguard Group Inc. Has $607.83 Million Position in Glacier Bancorp, Inc. $GBCI

Vanguard Group Inc. boosted its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,488,822 shares of the bank’s stock after purchasing an additional 419,849 shares during the quarter. Vanguard Group Inc. owned about 9.61% of Glacier Bancorp worth $607,831,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GBCI. Stephens set a $58.00 target price on Glacier Bancorp in a research note on Monday, January 26th. Keefe, Bruyette & Woods reiterated an “underperform” rating on shares of Glacier Bancorp in a research report on Monday, January 26th. Piper Sandler set a $59.00 target price on shares of Glacier Bancorp and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Janney Montgomery Scott began coverage on shares of Glacier Bancorp in a research report on Tuesday, February 10th. They set a “neutral” rating and a $55.00 price target on the stock. Finally, DA Davidson boosted their price objective on shares of Glacier Bancorp from $55.00 to $58.00 and gave the company a “buy” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.67.

Glacier Bancorp Stock Up 0.1%

Shares of NASDAQ GBCI opened at $47.74 on Wednesday. The stock has a 50-day moving average price of $48.30 and a two-hundred day moving average price of $46.43. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 28.59 and a beta of 0.76. Glacier Bancorp, Inc. has a 12 month low of $36.76 and a 12 month high of $53.99. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data 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 firm posted $0.54 earnings per share. As a group, analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Company Profile

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.