Eaton Vance Management Boosts Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)


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Eaton Vance Management increased its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 41.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,000,306 shares of the bank’s stock after acquiring an additional 293,689 shares during the quarter. Eaton Vance Management’s holdings in Glacier Bancorp were worth $46,024,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GBCI. Freedman Financial Associates Inc. bought a new position in shares of Glacier Bancorp in the fourth quarter valued at approximately $29,000. Graves Light Private Wealth Management Inc. bought a new stake in Glacier Bancorp during the fourth quarter valued at approximately $48,000. Toronto Dominion Bank bought a new stake in Glacier Bancorp during the fourth quarter valued at approximately $71,000. Veriti Management LLC purchased a new position in shares of Glacier Bancorp during the fourth quarter worth approximately $135,000. Finally, Soundmark Wealth Management LLC purchased a new position in shares of Glacier Bancorp during the fourth quarter worth approximately $207,000. Institutional investors own 68.09% of the company’s stock.

Shares of NASDAQ GBCI opened at $57.78 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Glacier Bancorp, Inc. has a 52 week low of $30.05 and a 52 week high of $67.35. The firm’s fifty day moving average is $58.38 and its 200 day moving average is $46.49. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 22.66 and a beta of 1.04.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Wednesday, January 27th. The bank reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.11. The business had revenue of $210.46 million for the quarter, compared to the consensus estimate of $199.34 million. Glacier Bancorp had a net margin of 31.94% and a return on equity of 11.31%. Equities research analysts anticipate that Glacier Bancorp, Inc. will post 2.69 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 22nd. Shareholders of record on Tuesday, April 13th will be given a dividend of $0.31 per share. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Monday, April 12th. Glacier Bancorp’s payout ratio is presently 50.42%.

Several research analysts have commented on GBCI shares. Zacks Investment Research raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Wednesday. Stephens initiated coverage on shares of Glacier Bancorp in a research note on Friday, February 19th. They issued an “equal weight” rating on the stock. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $47.33.

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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.

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Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

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