Glacier Bancorp, Inc. (GBCI) Holdings Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,067,647 shares of the bank’s stock after selling 13,283 shares during the quarter. Bank of New York Mellon Corp owned 1.37% of Glacier Bancorp worth $40,315,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Alps Advisors Inc. lifted its stake in Glacier Bancorp by 0.3% in the second quarter. Alps Advisors Inc. now owns 13,450 shares of the bank’s stock valued at $492,000 after buying an additional 34 shares during the period. Teacher Retirement System of Texas lifted its stake in Glacier Bancorp by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 6,141 shares of the bank’s stock valued at $225,000 after buying an additional 93 shares during the period. Arizona State Retirement System lifted its stake in Glacier Bancorp by 0.3% in the second quarter. Arizona State Retirement System now owns 39,996 shares of the bank’s stock valued at $1,464,000 after buying an additional 100 shares during the period. LS Investment Advisors LLC lifted its stake in Glacier Bancorp by 4.9% in the second quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock valued at $105,000 after buying an additional 134 shares during the period. Finally, Amalgamated Bank lifted its stake in Glacier Bancorp by 1.9% in the second quarter. Amalgamated Bank now owns 10,526 shares of the bank’s stock valued at $385,000 after buying an additional 200 shares during the period. 84.40% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Michael J. Blodnick sold 45,060 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $37.88, for a total transaction of $1,706,872.80. Following the transaction, the director now directly owns 27,576 shares of the company’s stock, valued at $1,044,578.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is owned by corporate insiders.

GBCI has been the topic of several recent analyst reports. BidaskClub raised Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. SunTrust Banks reissued a “buy” rating and issued a $42.00 price target on shares of Glacier Bancorp in a research note on Wednesday, November 29th. Keefe, Bruyette & Woods set a $36.00 target price on Glacier Bancorp and gave the stock a “hold” rating in a research report on Monday, August 28th. Piper Jaffray Companies set a $38.00 target price on Glacier Bancorp and gave the stock a “hold” rating in a research report on Saturday, October 21st. Finally, Zacks Investment Research lowered Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $38.67.

Glacier Bancorp, Inc. (GBCI) opened at $38.55 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.24. Glacier Bancorp, Inc. has a 12-month low of $31.38 and a 12-month high of $41.23. The firm has a market capitalization of $3,034.47, a P/E ratio of 22.62, a PEG ratio of 2.20 and a beta of 1.45.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, October 19th. The bank reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. The company had revenue of $120.00 million for the quarter, compared to analyst estimates of $121.07 million. research analysts predict that Glacier Bancorp, Inc. will post 1.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Tuesday, December 5th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, December 4th. Glacier Bancorp’s payout ratio is 48.84%.

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About Glacier Bancorp

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.

Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

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