Glacier Bancorp, Inc. (GBCI) Position Increased by Wasatch Advisors Inc.
Wasatch Advisors Inc. boosted its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,822,570 shares of the bank’s stock after acquiring an additional 42,317 shares during the period. Wasatch Advisors Inc. owned 2.34% of Glacier Bancorp worth $66,724,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Northern Trust Corp raised its holdings in Glacier Bancorp by 7.5% in the second quarter. Northern Trust Corp now owns 1,375,756 shares of the bank’s stock valued at $50,366,000 after acquiring an additional 96,330 shares in the last quarter. Teachers Advisors LLC raised its holdings in Glacier Bancorp by 6.0% in the second quarter. Teachers Advisors LLC now owns 137,408 shares of the bank’s stock valued at $5,031,000 after acquiring an additional 7,746 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Glacier Bancorp by 2.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 395,892 shares of the bank’s stock valued at $14,494,000 after acquiring an additional 9,858 shares in the last quarter. Amalgamated Bank raised its holdings in Glacier Bancorp by 1.9% in the second quarter. Amalgamated Bank now owns 10,526 shares of the bank’s stock valued at $385,000 after acquiring an additional 200 shares in the last quarter. Finally, Dearborn Partners LLC raised its holdings in Glacier Bancorp by 17.0% in the second quarter. Dearborn Partners LLC now owns 494,531 shares of the bank’s stock valued at $18,105,000 after acquiring an additional 72,019 shares in the last quarter. 80.86% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 price target on shares of Glacier Bancorp in a report on Friday, September 29th. Zacks Investment Research cut shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. BidaskClub cut shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $37.00 price target on shares of Glacier Bancorp in a report on Wednesday, July 12th.
Glacier Bancorp, Inc. (GBCI) traded down 1.45% during mid-day trading on Friday, reaching $36.75. 537,222 shares of the company traded hands. The stock has a 50 day moving average price of $35.09 and a 200-day moving average price of $34.61. The company has a market capitalization of $2.87 billion, a P/E ratio of 22.27 and a beta of 1.49. Glacier Bancorp, Inc. has a 52-week low of $27.31 and a 52-week high of $38.18.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). Glacier Bancorp had a return on equity of 11.02% and a net margin of 27.30%. The company had revenue of $113.91 million during the quarter, compared to analyst estimates of $115.60 million. During the same quarter in the previous year, the business posted $0.40 EPS. Analysts expect that Glacier Bancorp, Inc. will post $1.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 21st were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, September 20th. This represents a $0.84 dividend on an annualized basis and a yield of 2.29%. Glacier Bancorp’s dividend payout ratio is currently 50.91%.
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Glacier Bancorp Company Profile
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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