Legal & General Group Plc Raises Stake in Glacier Bancorp, Inc. (GBCI)
Legal & General Group Plc grew its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,855 shares of the bank’s stock after buying an additional 7,386 shares during the quarter. Legal & General Group Plc owned 0.20% of Glacier Bancorp worth $5,847,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Glacier Bancorp by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock worth $116,000 after purchasing an additional 283 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Glacier Bancorp by 34.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock worth $135,000 after purchasing an additional 947 shares in the last quarter. Advisor Group Inc. grew its stake in Glacier Bancorp by 23.7% during the 2nd quarter. Advisor Group Inc. now owns 3,884 shares of the bank’s stock worth $142,000 after purchasing an additional 744 shares in the last quarter. Fiduciary Trust Co. acquired a new position in Glacier Bancorp during the 2nd quarter worth $183,000. Finally, GWM Advisors LLC acquired a new position in Glacier Bancorp during the 2nd quarter worth $199,000. 84.40% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Don J. Chery sold 12,000 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $38.29, for a total value of $459,480.00. Following the completion of the sale, the insider now directly owns 30,270 shares of the company’s stock, valued at approximately $1,159,038.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Blodnick sold 25,338 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $38.38, for a total value of $972,472.44. Following the completion of the sale, the director now directly owns 25,497 shares of the company’s stock, valued at $978,574.86. The disclosure for this sale can be found here. Insiders have sold a total of 82,398 shares of company stock valued at $3,138,825 over the last ninety days. 0.65% of the stock is owned by company insiders.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.47 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.47. The company had revenue of $120.00 million during the quarter, compared to the consensus estimate of $121.07 million. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. sell-side analysts predict that Glacier Bancorp, Inc. will post 1.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Tuesday, December 5th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Monday, December 4th. Glacier Bancorp’s dividend payout ratio (DPR) is 48.84%.
Several research analysts recently commented on the company. BidaskClub cut Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, December 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 price target on shares of Glacier Bancorp in a report on Friday, September 29th. Zacks Investment Research downgraded Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. SunTrust Banks reaffirmed a “buy” rating and set a $42.00 price target on shares of Glacier Bancorp in a report on Wednesday, November 29th. Finally, Piper Jaffray Companies set a $38.00 price target on Glacier Bancorp and gave the stock a “hold” rating in a report on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $38.67.
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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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