Glacier Bancorp, Inc. $GBCI Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 108.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 146,777 shares of the bank’s stock after acquiring an additional 76,198 shares during the quarter. New York State Common Retirement Fund owned approximately 0.12% of Glacier Bancorp worth $7,144,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GBCI. Ballentine Partners LLC purchased a new position in shares of Glacier Bancorp during the 3rd quarter worth $241,000. Vanguard Personalized Indexing Management LLC increased its stake in Glacier Bancorp by 7.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 19,188 shares of the bank’s stock valued at $934,000 after purchasing an additional 1,397 shares during the last quarter. TrueMark Investments LLC purchased a new position in Glacier Bancorp during the third quarter worth about $3,229,000. Teacher Retirement System of Texas boosted its stake in Glacier Bancorp by 2.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 21,152 shares of the bank’s stock worth $1,029,000 after buying an additional 494 shares during the last quarter. Finally, Strs Ohio grew its holdings in Glacier Bancorp by 27.7% in the 3rd quarter. Strs Ohio now owns 12,900 shares of the bank’s stock valued at $628,000 after buying an additional 2,800 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Performance

Shares of GBCI stock opened at $53.21 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market cap of $6.91 billion, a PE ratio of 31.86 and a beta of 0.75. The company’s fifty day simple moving average is $46.14 and its 200-day simple moving average is $45.81. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $53.61.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the previous year, the business earned $0.54 earnings per share. As a group, equities research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, December 9th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, December 9th. Glacier Bancorp’s dividend payout ratio is currently 66.33%.

Wall Street Analysts Forecast Growth

GBCI has been the topic of several recent analyst reports. Piper Sandler upgraded shares of Glacier Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $50.00 to $58.00 in a report on Thursday, December 18th. DA Davidson increased their price target on shares of Glacier Bancorp from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Stephens set a $58.00 price target on shares of Glacier Bancorp in a report on Monday, January 26th. Raymond James Financial dropped their price objective on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating on shares of Glacier Bancorp in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.33.

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.