American Research & Management Co. reduced its position in Glacier Bancorp Inc. (NASDAQ:GBCI) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 216,984 shares of the company’s stock after selling 2,275 shares during the period. Glacier Bancorp makes up about 2.2% of American Research & Management Co.’s investment portfolio, making the stock its 11th largest position. American Research & Management Co.’s holdings in Glacier Bancorp were worth $5,767,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Glacier Bancorp by 1.9% in the first quarter. State Street Corp now owns 2,405,266 shares of the company’s stock worth $61,138,000 after buying an additional 45,843 shares during the last quarter. JPMorgan Chase & Co. boosted 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 during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Glacier Bancorp by 51.8% in the first quarter. Renaissance Technologies LLC now owns 942,460 shares of the company’s stock worth $23,957,000 after buying an additional 321,460 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Glacier Bancorp by 5.6% in the first quarter. Geode Capital Management LLC now owns 530,082 shares of the company’s stock worth $13,474,000 after buying an additional 28,208 shares during the last quarter. Finally, Prudential Financial Inc. boosted 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 during the last quarter. Institutional investors and hedge funds own 75.60% of the company’s stock.
Glacier Bancorp Inc. (NASDAQ:GBCI) traded up 0.11% during mid-day trading on Tuesday, hitting $27.79. The company had a trading volume of 236,011 shares. The company has a 50-day moving average price of $28.76 and a 200 day moving average price of $27.20. The firm has a market capitalization of $2.12 billion, a P/E ratio of 17.85 and a beta of 1.47. Glacier Bancorp Inc. has a 12 month low of $21.90 and a 12 month high of $30.12.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.40 EPS for the quarter, missing the Zacks’ 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%. Equities analysts forecast that Glacier Bancorp Inc. will post $1.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Tuesday, October 11th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.88%. Glacier Bancorp’s dividend payout ratio is currently 51.28%.
Several analysts recently issued reports on GBCI shares. Zacks Investment Research upgraded Glacier Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 31st. FIG Partners cut Glacier Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Glacier Bancorp presently has a consensus rating of “Hold” and a consensus target price of $27.25.
Glacier Bancorp Company Profile
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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