Texas Bank & Trust Co Invests $559,000 in Glacier Bancorp, Inc. $GBCI

Texas Bank & Trust Co acquired a new stake in Glacier Bancorp, Inc. (NYSE:GBCI) in the 4th quarter, HoldingsChannel reports. The fund acquired 12,700 shares of the company’s stock, valued at approximately $559,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Glacier Bancorp by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock worth $588,471,000 after purchasing an additional 870,335 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Glacier Bancorp during the 2nd quarter worth approximately $24,362,000. Bank of America Corp DE increased its holdings in shares of Glacier Bancorp by 113.0% during the 3rd quarter. Bank of America Corp DE now owns 872,117 shares of the company’s stock worth $42,446,000 after acquiring an additional 462,711 shares during the last quarter. Deprince Race & Zollo Inc. raised its stake in Glacier Bancorp by 30.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company’s stock valued at $73,229,000 after acquiring an additional 390,366 shares during the period. Finally, Freestone Grove Partners LP lifted its holdings in Glacier Bancorp by 24.8% during the 3rd quarter. Freestone Grove Partners LP now owns 1,385,589 shares of the company’s stock valued at $67,437,000 after purchasing an additional 275,209 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GBCI shares. Janney Montgomery Scott assumed coverage on shares of Glacier Bancorp in a research report on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 price objective on the stock. Stephens upped their price target on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods reissued an “underperform” rating on shares of Glacier Bancorp in a report on Monday, January 26th. Piper Sandler boosted their price objective on Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Wall Street Zen upgraded Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.17.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $47.80 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The company has a market cap of $6.22 billion, a PE ratio of 22.34 and a beta of 0.76. The company has a 50 day moving average of $46.60 and a 200-day moving average of $46.18. Glacier Bancorp, Inc. has a 1-year low of $39.90 and a 1-year high of $53.99.

Glacier Bancorp (NYSE:GBCI) last released its earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.The firm had revenue of $309.61 million during the quarter. During the same quarter in the previous year, the company earned $0.48 earnings per share. As a group, equities research analysts forecast that Glacier Bancorp, Inc. will post 3.16 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Tuesday, April 7th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, April 7th. Glacier Bancorp’s dividend payout ratio (DPR) is 61.68%.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.