Beacon Pointe Advisors LLC bought a new stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 550,566 shares of the company's stock, valued at approximately $28,398,000. Beacon Pointe Advisors LLC owned about 0.42% of Glacier Bancorp as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Glacier Bancorp in the 2nd quarter valued at $913,766,000. Vanguard Group Inc. increased its position in shares of Glacier Bancorp by 7.0% during 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 in the last quarter. State Street Corp raised its stake in Glacier Bancorp by 9.9% in the 4th quarter. State Street Corp now owns 6,178,363 shares of the company's stock valued at $272,157,000 after purchasing an additional 557,873 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Glacier Bancorp by 7.7% in the 4th 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. Finally, Cooke & Bieler LP boosted its stake in Glacier Bancorp by 5.3% during the 4th quarter. Cooke & Bieler LP now owns 3,049,334 shares of the company's stock worth $134,323,000 after purchasing an additional 154,595 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.
Glacier Bancorp Price Performance
Glacier Bancorp stock opened at $46.95 on Friday. Glacier Bancorp, Inc. has a 12-month low of $39.90 and a 12-month high of $54.58. The stock has a market capitalization of $6.11 billion, a P/E ratio of 19.24 and a beta of 0.74. The firm's 50-day moving average is $50.15 and its two-hundred day moving average is $48.30. 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 (NYSE:GBCI - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, meeting analysts' consensus estimates of $0.76. The firm had revenue of $320.94 million for the quarter. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. During the same period last year, the firm earned $0.57 earnings per share. Equities analysts predict that Glacier Bancorp, Inc. will post 3.11 earnings per share for the current year.
Glacier Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 annualized dividend and a yield of 2.8%. Glacier Bancorp's dividend payout ratio is currently 54.10%.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Weiss Ratings raised shares of Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. DA Davidson reissued a "buy" rating and issued a $58.00 price target on shares of Glacier Bancorp in a research report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Glacier Bancorp presently has an average rating of "Moderate Buy" and a consensus target price of $55.17.
View Our Latest Stock Analysis on GBCI
Glacier Bancorp Company Profile
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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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