Teacher Retirement System of Texas Buys New Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Teacher Retirement System of Texas acquired a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,578 shares of the bank's stock, valued at approximately $733,000.

Other large investors also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in shares of Glacier Bancorp by 1,839.2% in the 1st quarter. Bessemer Group Inc. now owns 9,599 shares of the bank's stock worth $424,000 after acquiring an additional 9,104 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Glacier Bancorp by 4,580.7% during the first quarter. GAMMA Investing LLC now owns 142,388 shares of the bank's stock valued at $6,296,000 after purchasing an additional 139,346 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Glacier Bancorp during the fourth quarter valued at approximately $9,544,000. JPMorgan Chase & Co. lifted its position in Glacier Bancorp by 76.0% in the fourth quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock worth $28,192,000 after purchasing an additional 242,414 shares during the period. Finally, Bridge City Capital LLC boosted its stake in Glacier Bancorp by 8.1% during the 4th quarter. Bridge City Capital LLC now owns 161,370 shares of the bank's stock valued at $8,104,000 after purchasing an additional 12,039 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company's stock.

Glacier Bancorp Price Performance

Glacier Bancorp stock traded down $0.10 during mid-day trading on Friday, reaching $45.69. The company had a trading volume of 615,207 shares, compared to its average volume of 660,412. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $60.67. The business has a fifty day simple moving average of $43.14 and a 200 day simple moving average of $44.86. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market cap of $5.19 billion, a P/E ratio of 27.36 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the prior year, the firm posted $0.29 earnings per share. On average, equities research analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Tuesday, July 8th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.32 annualized dividend and a yield of 2.89%. Glacier Bancorp's payout ratio is 70.97%.

Analysts Set New Price Targets

Several brokerages recently weighed in on GBCI. DA Davidson restated a "buy" rating and set a $50.00 target price on shares of Glacier Bancorp in a research note on Wednesday, June 25th. Keefe, Bruyette & Woods raised their target price on Glacier Bancorp from $50.00 to $52.00 and gave the company a "market perform" rating in a research note on Friday, June 27th. Janney Montgomery Scott upgraded shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target on the stock in a research report on Thursday, June 5th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $48.00 target price (up from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.83.

Glacier Bancorp 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.