Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 1.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,172,759 shares of the bank's stock after selling 21,736 shares during the period. Bank of New York Mellon Corp owned 1.03% of Glacier Bancorp worth $51,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in GBCI. Jones Financial Companies Lllp boosted its position in Glacier Bancorp by 19.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,533 shares of the bank's stock worth $177,000 after purchasing an additional 578 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Glacier Bancorp during the fourth quarter worth approximately $716,000. Raymond James Financial Inc. purchased a new stake in shares of Glacier Bancorp in the fourth quarter valued at about $9,544,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Glacier Bancorp by 12.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,173 shares of the bank's stock worth $1,465,000 after buying an additional 3,117 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Glacier Bancorp by 143.2% during the fourth quarter. HighTower Advisors LLC now owns 14,307 shares of the bank's stock worth $718,000 after buying an additional 8,425 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Stock Up 1.6%

NASDAQ GBCI traded up $0.71 during trading hours on Wednesday, hitting $45.06. The company had a trading volume of 853,000 shares, compared to its average volume of 699,205. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $60.67. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 26.98 and a beta of 0.77. The firm's 50 day moving average is $42.92 and its 200 day moving average is $44.92.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the business earned $0.29 earnings per share. Sell-side analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Tuesday, July 8th. Glacier Bancorp's payout ratio is 70.97%.

Wall Street Analyst Weigh In

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

Glacier Bancorp Company 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.