Principal Financial Group Inc. decreased its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 593,472 shares of the bank’s stock after selling 1,752 shares during the quarter. Principal Financial Group Inc. owned approximately 0.76% of Glacier Bancorp worth $21,727,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of GBCI. BlackRock Inc. increased its holdings in Glacier Bancorp by 50,940.2% during the 1st quarter. BlackRock Inc. now owns 9,639,971 shares of the bank’s stock worth $327,084,000 after purchasing an additional 9,621,084 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of Glacier Bancorp by 162.7% in the 1st quarter. Neuberger Berman Group LLC now owns 1,408,314 shares of the bank’s stock valued at $47,784,000 after acquiring an additional 872,126 shares during the last quarter. State Street Corp increased its holdings in shares of Glacier Bancorp by 25.8% in the 1st quarter. State Street Corp now owns 3,003,305 shares of the bank’s stock valued at $101,899,000 after acquiring an additional 615,216 shares during the last quarter. Denver Investment Advisors LLC purchased a new position in shares of Glacier Bancorp in the 2nd quarter valued at about $18,631,000. Finally, Vanguard Group Inc. increased its holdings in shares of Glacier Bancorp by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 7,055,773 shares of the bank’s stock valued at $239,402,000 after acquiring an additional 381,855 shares during the last quarter. Institutional investors own 81.12% of the company’s stock.
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A number of research firms have recently commented on GBCI. Keefe, Bruyette & Woods set a $36.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a report on Monday, August 28th. Piper Jaffray Companies set a $38.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a report on Saturday, July 29th. BidaskClub downgraded Glacier Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Zacks Investment Research downgraded Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th.
Glacier Bancorp, Inc. (NASDAQ:GBCI) opened at 33.37 on Wednesday. The stock has a market cap of $2.60 billion, a P/E ratio of 20.22 and a beta of 1.45. The stock has a 50 day moving average price of $33.86 and a 200-day moving average price of $34.49. Glacier Bancorp, Inc. has a 12-month low of $27.31 and a 12-month high of $38.17.
Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.01). Glacier Bancorp had a return on equity of 11.02% and a net margin of 27.30%. The business had revenue of $113.91 million for the quarter, compared to analysts’ expectations of $115.60 million. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, equities analysts expect that Glacier Bancorp, Inc. will post $1.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 21st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.52%. The ex-dividend date is Wednesday, September 20th. Glacier Bancorp’s dividend payout ratio is currently 50.91%.
Glacier Bancorp Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It 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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