Bank of America Corp DE increased its position in Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 82.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,281,285 shares of the company's stock after acquiring an additional 577,654 shares during the quarter. Bank of America Corp DE owned about 0.98% of Glacier Bancorp worth $57,235,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC lifted its stake in shares of Glacier Bancorp by 122.5% during the 1st quarter. Root Financial Partners LLC now owns 652 shares of the company's stock valued at $29,000 after buying an additional 359 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Glacier Bancorp in the 4th quarter worth $31,000. EverSource Wealth Advisors LLC raised its holdings in Glacier Bancorp by 218.8% during the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company's stock valued at $31,000 after acquiring an additional 490 shares during the period. Global Retirement Partners LLC raised its holdings in Glacier Bancorp by 41.2% during the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the company's stock valued at $34,000 after acquiring an additional 223 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Glacier Bancorp in the fourth quarter valued at about $35,000. Institutional investors own 80.17% of the company's stock.
Glacier Bancorp Stock Performance
NYSE:GBCI opened at $49.11 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84. Glacier Bancorp, Inc. has a 1 year low of $39.90 and a 1 year high of $54.58. The stock's 50 day simple moving average is $50.15 and its two-hundred day simple moving average is $48.51. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 20.13 and a beta of 0.74.
Glacier Bancorp (NYSE:GBCI - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.76 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 firm had revenue of $320.94 million during the quarter. During the same quarter in the prior year, the company posted $0.57 earnings per share. As a group, equities analysts anticipate that Glacier Bancorp, Inc. will post 3.11 earnings per share for the current fiscal year.
Glacier Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were issued a $0.33 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. Glacier Bancorp's payout ratio is 54.10%.
Analyst Ratings Changes
Several research firms recently issued reports on GBCI. Weiss Ratings upgraded Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Piper Sandler upped their price target on Glacier Bancorp from $59.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, April 27th. DA Davidson reaffirmed a "buy" rating and set a $58.00 price objective on shares of Glacier Bancorp in a report on Monday, July 27th. Finally, Stephens lifted their price objective 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. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.17.
Read Our Latest Analysis on Glacier Bancorp
About Glacier Bancorp
(
Free Report)
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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