Cooke & Bieler LP decreased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,012,906 shares of the bank's stock after selling 113,865 shares during the period. Cooke & Bieler LP owned approximately 2.65% of Glacier Bancorp worth $133,231,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Glacier Bancorp in the fourth quarter worth $56,923,000. Millennium Management LLC lifted its holdings in shares of Glacier Bancorp by 4,600.1% during the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank's stock valued at $47,010,000 after acquiring an additional 916,163 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Glacier Bancorp by 76.0% during the fourth quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock valued at $28,192,000 after acquiring an additional 242,414 shares during the period. Raymond James Financial Inc. bought a new position in shares of Glacier Bancorp during the fourth quarter valued at $9,544,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Glacier Bancorp by 1,114.9% during the fourth quarter. Prudential Financial Inc. now owns 191,816 shares of the bank's stock valued at $9,633,000 after acquiring an additional 176,028 shares during the period. Institutional investors and hedge funds own 80.17% of the company's stock.
Glacier Bancorp Price Performance
Shares of GBCI stock opened at $45.06 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market cap of $5.11 billion, a P/E ratio of 26.98 and a beta of 0.77. Glacier Bancorp, Inc. has a twelve month low of $36.76 and a twelve month high of $60.67. The business has a fifty day simple moving average of $43.00 and a 200 day simple moving average of $44.92.
Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same quarter in the previous year, the company earned $0.29 earnings per share. On average, sell-side analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.
Glacier Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Tuesday, July 8th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.93%. Glacier Bancorp's dividend payout ratio (DPR) is currently 70.97%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on GBCI shares. DA Davidson restated a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a research note on Wednesday, June 25th. Janney Montgomery Scott upgraded Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price for the company in a research note on Thursday, June 5th. Keefe, Bruyette & Woods lifted their price objective on Glacier Bancorp from $50.00 to $52.00 and gave the stock a "market perform" rating in a research report on Friday, June 27th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $48.00 price objective (up from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Glacier Bancorp presently has an average rating of "Moderate Buy" and an average target price of $50.83.
Read Our Latest Report on GBCI
Glacier Bancorp Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding GBCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report).
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