Bank of New York Mellon Corp Takes Position in Glacier Bancorp, Inc. $GBCI

Key Points

• Bank of New York Mellon acquired 1.08 million Glacier Bancorp shares worth approximately $55.8 million, representing 0.83% of the company. Institutional investors collectively own 80.17% of GBCI.
• Analyst sentiment is favorable, with five Buy, two Hold, and one Sell ratings, resulting in a “Moderate Buy” consensus and an average price target of $55.17.
• Glacier Bancorp reported quarterly EPS of $0.76, matching estimates, and revenue of $320.94 million. The company pays a quarterly dividend of $0.33 per share, or $1.32 annually, yielding about 2.8%.

Bank of New York Mellon Corp bought a new position in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,081,322 shares of the company's stock, valued at approximately $55,775,000. Bank of New York Mellon Corp owned 0.83% of Glacier Bancorp at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Glacier Bancorp by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company's stock valued at $146,736,000 after purchasing an additional 237,316 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Glacier Bancorp by 881.8% during the fourth quarter. Hsbc Holdings PLC now owns 43,453 shares of the company's stock valued at $1,919,000 after buying an additional 39,027 shares in the last quarter. Fifth Third Bancorp raised its position in Glacier Bancorp by 2,984.7% during the first quarter. Fifth Third Bancorp now owns 39,978 shares of the company's stock valued at $1,786,000 after buying an additional 38,682 shares during the period. Vanguard Group Inc. raised its position in Glacier Bancorp by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company's stock valued at $588,471,000 after buying an additional 870,335 shares during the period. Finally, KBC Group NV lifted its stake in Glacier Bancorp by 1,740.2% in the 1st quarter. KBC Group NV now owns 67,369 shares of the company's stock worth $3,009,000 after acquiring an additional 63,708 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Glacier Bancorp Stock Performance

Shares of GBCI opened at $47.26 on Thursday. The company's fifty day moving average is $50.20 and its 200-day moving average is $48.35. Glacier Bancorp, Inc. has a 12 month low of $39.90 and a 12 month high of $54.58. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 19.37 and a beta of 0.74. 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 (NYSE:GBCI - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $320.94 million during the quarter. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. During the same period in the previous year, the firm posted $0.57 EPS. Equities analysts expect that Glacier Bancorp, Inc. will post 3.11 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were issued 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 of this dividend was Tuesday, July 7th. Glacier Bancorp's dividend payout ratio is currently 54.10%.

About Glacier Bancorp

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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