Tower Research Capital LLC TRC acquired a new position in Glacier Bancorp Inc. (NASDAQ:GBCI) during the second quarter, Holdings Channel reports. The firm acquired 3,816 shares of the company’s stock, valued at approximately $102,000.
Other hedge funds also recently modified their holdings of the company. Teachers Advisors Inc. raised its stake in shares of Glacier Bancorp by 4.5% in the first quarter. Teachers Advisors Inc. now owns 113,970 shares of the company’s stock worth $2,897,000 after buying an additional 4,878 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Glacier Bancorp by 1.3% in the first quarter. Prudential Financial Inc. now owns 188,501 shares of the company’s stock worth $4,792,000 after buying an additional 2,400 shares in the last quarter. BlackRock Inc. raised its stake in shares of Glacier Bancorp by 52.3% in the first quarter. BlackRock Inc. now owns 8,203 shares of the company’s stock worth $208,000 after buying an additional 2,816 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Glacier Bancorp by 3.2% in the first quarter. BlackRock Group LTD now owns 150,953 shares of the company’s stock worth $3,837,000 after buying an additional 4,748 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Glacier Bancorp by 6.1% in the first quarter. JPMorgan Chase & Co. now owns 1,658,818 shares of the company’s stock worth $42,167,000 after buying an additional 95,972 shares in the last quarter. 75.60% of the stock is owned by hedge funds and other institutional investors.
Glacier Bancorp Inc. (NASDAQ:GBCI) opened at 27.95 on Friday. Glacier Bancorp Inc. has a 12-month low of $21.90 and a 12-month high of $30.12. The stock has a 50 day moving average price of $28.81 and a 200 day moving average price of $27.16. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 17.95 and a beta of 1.47.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.01. Glacier Bancorp had a return on equity of 10.82% and a net margin of 27.17%. On average, analysts expect that Glacier Bancorp Inc. will post $1.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Tuesday, October 11th will be issued a $0.20 dividend. The ex-dividend date is Thursday, October 6th. This represents a $0.80 annualized dividend and a yield of 2.86%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 51.28%.
A number of analysts have commented on GBCI shares. Zacks Investment Research lowered Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. FIG Partners lowered Glacier Bancorp from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Glacier Bancorp currently has a consensus rating of “Hold” and a consensus target price of $27.25.
About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. It provides banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington through its bank subsidiary, Glacier Bank (the Bank). The Company 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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