Denver Investment Advisors LLC Acquires Shares of 508,888 Glacier Bancorp, Inc. (GBCI)
Denver Investment Advisors LLC acquired a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 508,888 shares of the bank’s stock, valued at approximately $18,631,000.
Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Glacier Bancorp by 50,940.2% in the first quarter. BlackRock Inc. now owns 9,639,971 shares of the bank’s stock worth $327,084,000 after buying an additional 9,621,084 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Glacier Bancorp by 5.7% in the first quarter. Vanguard Group Inc. now owns 7,055,773 shares of the bank’s stock worth $239,402,000 after buying an additional 381,855 shares in the last quarter. State Street Corp boosted its position in shares of Glacier Bancorp by 25.8% in the first quarter. State Street Corp now owns 3,003,305 shares of the bank’s stock worth $101,899,000 after buying an additional 615,216 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Glacier Bancorp by 2.7% in the first quarter. JPMorgan Chase & Co. now owns 2,207,769 shares of the bank’s stock worth $74,909,000 after buying an additional 58,634 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of Glacier Bancorp by 12.7% in the first quarter. Aberdeen Asset Management PLC UK now owns 2,067,985 shares of the bank’s stock worth $70,177,000 after buying an additional 233,270 shares in the last quarter. 79.34% of the stock is currently owned by institutional investors.
Glacier Bancorp, Inc. (GBCI) opened at 34.45 on Tuesday. Glacier Bancorp, Inc. has a 52-week low of $27.31 and a 52-week high of $38.17. The company’s 50-day moving average price is $35.48 and its 200 day moving average price is $34.88. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 20.88 and a beta of 1.44.
Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.01. Glacier Bancorp had a return on equity of 11.02% and a net margin of 27.30%. The firm had revenue of $113.91 million during the quarter, compared to analysts’ expectations of $115.60 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, equities analysts expect that Glacier Bancorp, Inc. will post $1.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Wednesday, July 12th were given a dividend of $0.21 per share. The ex-dividend date was Monday, July 10th. This represents a $0.84 dividend on an annualized basis and a yield of 2.44%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 50.91%.
A number of equities analysts recently weighed in on GBCI shares. Zacks Investment Research cut Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Keefe, Bruyette & Woods set a $36.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a report on Monday, June 26th. BidaskClub lowered Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Piper Jaffray Companies set a $38.00 price target on Glacier Bancorp and gave the stock a “hold” rating in a research report on Saturday, July 29th.
In other Glacier Bancorp news, Director James M. English sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $36.65, for a total transaction of $91,625.00. Following the sale, the director now directly owns 20,181 shares in the company, valued at $739,633.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.65% of the company’s stock.
About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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