Tdam USA Inc. Sells 11,317 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)
Tdam USA Inc. reduced its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 40.5% during the second quarter, Holdings Channel reports. The firm owned 16,635 shares of the bank’s stock after selling 11,317 shares during the period. Tdam USA Inc.’s holdings in Glacier Bancorp were worth $609,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of GBCI. FMR LLC purchased a new stake in shares of Glacier Bancorp during the fourth quarter valued at about $5,232,000. AQR Capital Management LLC purchased a new stake in shares of Glacier Bancorp during the fourth quarter valued at about $322,000. Teachers Advisors LLC increased its stake in shares of Glacier Bancorp by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 126,304 shares of the bank’s stock valued at $4,576,000 after buying an additional 3,375 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of Glacier Bancorp during the fourth quarter valued at about $273,000. Finally, Skylands Capital LLC increased its stake in shares of Glacier Bancorp by 3.4% in the first quarter. Skylands Capital LLC now owns 79,200 shares of the bank’s stock valued at $2,687,000 after buying an additional 2,600 shares during the period. 78.55% of the stock is owned by institutional investors.
Glacier Bancorp, Inc. (NASDAQ:GBCI) opened at 34.70 on Thursday. The stock’s 50 day moving average price is $35.59 and its 200 day moving average price is $34.91. Glacier Bancorp, Inc. has a 1-year low of $27.31 and a 1-year high of $38.17. The stock has a market capitalization of $2.71 billion, a PE ratio of 21.03 and a beta of 1.44.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The company 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 in the prior year, the firm earned $0.40 EPS. Equities research analysts forecast that Glacier Bancorp, Inc. will post $1.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Wednesday, July 12th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.42%. The ex-dividend date was Monday, July 10th. Glacier Bancorp’s dividend payout ratio is 50.91%.
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Several analysts have issued reports on GBCI shares. Piper Jaffray Companies lowered their price objective on shares of Glacier Bancorp from $35.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, April 17th. Zacks Investment Research downgraded shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. BidaskClub raised shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods set a $36.00 price objective on shares of Glacier Bancorp and gave the company a “hold” rating in a research report on Monday, June 26th.
In related news, Director James M. English sold 2,500 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is owned by insiders.
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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