Texas Bank & Trust Co Buys New Stake in Glacier Bancorp, Inc. $GBCI

Texas Bank & Trust Co purchased a new position in shares of Glacier Bancorp, Inc. (NYSE:GBCI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,700 shares of the company’s stock, valued at approximately $559,000.

A number of other institutional investors also recently added to or reduced their stakes in GBCI. Vanguard Group Inc. increased its holdings in shares of Glacier Bancorp by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock worth $588,471,000 after buying an additional 870,335 shares in the last quarter. Capital International Investors grew its position in Glacier Bancorp by 17.1% during the 3rd quarter. Capital International Investors now owns 1,742,780 shares of the company’s stock worth $84,821,000 after acquiring an additional 254,514 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in Glacier Bancorp by 30.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company’s stock valued at $73,229,000 after purchasing an additional 390,366 shares during the last quarter. Northern Trust Corp boosted its stake in Glacier Bancorp by 1.0% in the third quarter. Northern Trust Corp now owns 1,657,366 shares of the company’s stock worth $80,664,000 after purchasing an additional 16,646 shares in the last quarter. Finally, Freestone Grove Partners LP lifted its position in Glacier Bancorp by 24.8% during the 3rd quarter. Freestone Grove Partners LP now owns 1,385,589 shares of the company’s stock worth $67,437,000 after buying an additional 275,209 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on GBCI shares. Stephens upped their target price on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. DA Davidson lifted their target price on shares of Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Brean Capital cut shares of Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Glacier Bancorp presently has a consensus rating of “Hold” and an average price target of $55.17.

Glacier Bancorp Stock Performance

Shares of NYSE:GBCI opened at $47.80 on Friday. The firm’s 50 day simple moving average is $46.60 and its 200 day simple moving average is $46.18. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 22.34 and a beta of 0.76. Glacier Bancorp, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $53.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.83.

Glacier Bancorp (NYSE:GBCI) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.The company had revenue of $309.61 million during the quarter. During the same quarter last year, the company earned $0.48 earnings per share. As a group, sell-side analysts forecast that Glacier Bancorp, Inc. will post 3.16 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Tuesday, April 7th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, April 7th. Glacier Bancorp’s dividend payout ratio is currently 61.68%.

Glacier Bancorp Company Profile

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.