Cooke & Bieler LP Has $133.85 Million Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Cooke & Bieler LP boosted its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 34.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,239,276 shares of the bank’s stock after purchasing an additional 821,199 shares during the period. Cooke & Bieler LP’s holdings in Glacier Bancorp were worth $133,847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in Glacier Bancorp by 409.4% during the fourth quarter. Allworth Financial LP now owns 596 shares of the bank’s stock valued at $25,000 after buying an additional 479 shares in the last quarter. Barclays PLC raised its holdings in Glacier Bancorp by 1,498.3% during the third quarter. Barclays PLC now owns 943 shares of the bank’s stock valued at $27,000 after buying an additional 884 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Glacier Bancorp during the fourth quarter valued at about $28,000. Point72 Asset Management L.P. bought a new position in Glacier Bancorp during the second quarter valued at about $37,000. Finally, Selway Asset Management bought a new position in Glacier Bancorp during the third quarter valued at about $47,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Trading Up 5.2 %

Glacier Bancorp stock opened at $36.94 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day simple moving average is $37.80 and its 200-day simple moving average is $36.65. The firm has a market capitalization of $4.19 billion, a PE ratio of 21.11 and a beta of 0.80. Glacier Bancorp, Inc. has a 52 week low of $26.77 and a 52 week high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Friday, April 19th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 6.61% and a net margin of 16.40%. The firm had revenue of $196.47 million for the quarter, compared to analyst estimates of $202.66 million. During the same period last year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. Equities research analysts forecast that Glacier Bancorp, Inc. will post 1.82 earnings per share for the current year.

Glacier Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were given a dividend of $0.33 per share. The ex-dividend date was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 dividend on an annualized basis and a yield of 3.57%. Glacier Bancorp’s dividend payout ratio (DPR) is 75.43%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial cut their target price on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Stephens restated an “equal weight” rating and set a $44.00 target price on shares of Glacier Bancorp in a report on Friday. Raymond James raised their target price on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Finally, StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.40.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. The company offers retail banking, business banking, and mortgage origination and loan servicing services.