Heartland Advisors Inc. Invests $18.66 Million in Glacier Bancorp, Inc. $GBCI

Heartland Advisors Inc. purchased a new position in shares of Glacier Bancorp, Inc. (NYSE:GBCI) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 361,699 shares of the company’s stock, valued at approximately $18,656,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GBCI. BlackRock Inc. acquired a new position in Glacier Bancorp in the second quarter worth $913,766,000. Vanguard Group Inc. increased its stake in shares of Glacier Bancorp by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock valued at $588,471,000 after buying an additional 870,335 shares in the last quarter. State Street Corp increased its stake in shares of Glacier Bancorp by 9.9% in the fourth quarter. State Street Corp now owns 6,178,363 shares of the company’s stock valued at $272,157,000 after buying an additional 557,873 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Glacier Bancorp by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company’s stock valued at $146,736,000 after buying an additional 237,316 shares in the last quarter. Finally, Cooke & Bieler LP raised its holdings in shares of Glacier Bancorp by 5.3% in the fourth quarter. Cooke & Bieler LP now owns 3,049,334 shares of the company’s stock valued at $134,323,000 after buying an additional 154,595 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GBCI shares. Stephens upped their price target on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded shares of Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. DA Davidson reaffirmed a “buy” rating and issued a $58.00 target price on shares of Glacier Bancorp in a research note on Monday, July 27th. Finally, Piper Sandler upped their target price on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.17.

Glacier Bancorp Stock Performance

GBCI stock opened at $47.25 on Friday. The company has a market cap of $6.15 billion, a P/E ratio of 19.36 and a beta of 0.74. Glacier Bancorp, Inc. has a twelve month low of $39.90 and a twelve month high of $54.58. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average of $50.31 and a 200-day moving average of $48.48.

Glacier Bancorp (NYSE:GBCI) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $320.94 million for the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same period last year, the company earned $0.57 EPS. As a group, equities research analysts expect that Glacier Bancorp, Inc. will post 3.11 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp’s payout ratio is currently 54.10%.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.