508,074 Shares in Glacier Bancorp, Inc. $GBCI Purchased by Port Capital LLC

Key Points

• Port Capital LLC acquired 508,074 shares of Glacier Bancorp in the second quarter, worth approximately $26.2 million and representing about 0.39% of the company. Institutional investors collectively own 80.17% of GBCI.
• Analysts maintain a cautiously positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $55.17. Recent ratings included a $58 buy target from DA Davidson and a $54 overweight target from Stephens.
• Glacier Bancorp reported quarterly EPS of $0.76, matching estimates, on $320.94 million in revenue. The company also pays a quarterly dividend of $0.33 per share, or $1.32 annually, yielding approximately 2.8%.

Port Capital LLC bought a new position in Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 508,074 shares of the company's stock, valued at approximately $26,206,000. Port Capital LLC owned about 0.39% of Glacier Bancorp as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of GBCI. BlackRock Inc. purchased a new position in shares of Glacier Bancorp during the second quarter valued at approximately $913,766,000. Vanguard Group Inc. boosted its holdings in Glacier Bancorp by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company's stock worth $588,471,000 after purchasing an additional 870,335 shares during the last quarter. State Street Corp grew its position in Glacier Bancorp by 9.9% in the 4th quarter. State Street Corp now owns 6,178,363 shares of the company's stock worth $272,157,000 after purchasing an additional 557,873 shares during the period. Geode Capital Management LLC raised its stake in Glacier Bancorp by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company's stock valued at $146,736,000 after buying an additional 237,316 shares during the last quarter. Finally, Cooke & Bieler LP lifted its holdings in shares of Glacier Bancorp by 5.3% during the 4th quarter. Cooke & Bieler LP now owns 3,049,334 shares of the company's stock valued at $134,323,000 after buying an additional 154,595 shares during the period. Institutional investors own 80.17% of the company's stock.

Wall Street Analyst Weigh In

GBCI has been the subject of a number of research reports. DA Davidson reiterated a "buy" rating and set a $58.00 price objective on shares of Glacier Bancorp in a research report on Monday, July 27th. Stephens raised their target price on Glacier Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings upgraded Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.17.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $47.26 on Thursday. The business has a 50-day simple moving average of $50.20 and a two-hundred day simple moving average of $48.35. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. Glacier Bancorp, Inc. has a 52 week low of $39.90 and a 52 week high of $54.58. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 19.37 and a beta of 0.74.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.76. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.The company had revenue of $320.94 million during the quarter. During the same quarter last year, the firm posted $0.57 earnings per share. On average, analysts expect that Glacier Bancorp, Inc. will post 3.11 EPS for the current year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 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 was Tuesday, July 7th. Glacier Bancorp's dividend payout ratio (DPR) is presently 54.10%.

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.

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