Jennison Associates LLC Acquires 5,088 Shares of Glacier Bancorp, Inc. (GBCI)
Jennison Associates LLC raised its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 9.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,673 shares of the bank’s stock after buying an additional 5,088 shares during the period. Jennison Associates LLC owned 0.08% of Glacier Bancorp worth $2,221,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. LS Investment Advisors LLC raised its position in Glacier Bancorp by 4.9% in the second quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock valued at $105,000 after buying an additional 134 shares during the last quarter. Woodstock Corp acquired a new position in Glacier Bancorp during the second quarter valued at approximately $211,000. Koch Industries Inc. acquired a new position in Glacier Bancorp during the first quarter valued at approximately $218,000. Teacher Retirement System of Texas raised its position in Glacier Bancorp by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 6,141 shares of the bank’s stock valued at $225,000 after buying an additional 93 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new position in Glacier Bancorp during the first quarter valued at approximately $239,000. 81.08% of the stock is owned by institutional investors and hedge funds.
Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) opened at 33.56 on Tuesday. Glacier Bancorp, Inc. has a one year low of $27.31 and a one year high of $38.17. The firm has a market cap of $2.62 billion, a PE ratio of 20.34 and a beta of 1.44. The company has a 50-day moving average of $34.77 and a 200 day moving average of $34.75.
Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.01. The business had revenue of $113.91 million during the quarter, compared to analyst estimates of $115.60 million. Glacier Bancorp had a net margin of 27.30% and a return on equity of 11.02%. During the same period last year, the business earned $0.40 EPS. On average, equities research analysts expect that Glacier Bancorp, Inc. will post $1.78 EPS for the current fiscal year.
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Several research analysts have recently commented on the stock. Piper Jaffray Companies reissued a “hold” rating and issued a $37.00 price objective on shares of Glacier Bancorp in a research note on Wednesday, July 12th. BidaskClub raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Monday, June 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 target price on shares of Glacier Bancorp in a report on Thursday, July 27th.
In other Glacier Bancorp news, Director James M. English sold 2,500 shares of the firm’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 value of $91,625.00. Following the sale, the director now owns 20,181 shares of the company’s stock, valued at approximately $739,633.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.65% of the company’s stock.
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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