Deutsche Bank AG bought a new stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 140,629 shares of the company's stock, valued at approximately $7,254,000. Deutsche Bank AG owned about 0.11% of Glacier Bancorp as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of GBCI. Vanguard Group Inc. boosted its holdings 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 during the period. State Street Corp increased 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 buying an additional 557,873 shares during the period. Geode Capital Management LLC increased its stake 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 buying an additional 237,316 shares during the period. Cooke & Bieler LP lifted its position in Glacier Bancorp by 5.3% in the 4th quarter. Cooke & Bieler LP now owns 3,049,334 shares of the company's stock worth $134,323,000 after buying an additional 154,595 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Glacier Bancorp by 16.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,845,069 shares of the company's stock valued at $125,328,000 after buying an additional 402,939 shares during the period. Institutional investors and hedge funds own 80.17% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on GBCI. DA Davidson reaffirmed a "buy" rating and issued a $58.00 price target on shares of Glacier Bancorp in a research note on Monday, July 27th. Weiss Ratings raised Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Piper Sandler raised 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. Finally, Stephens lifted their price target on Glacier Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.17.
Get Our Latest Stock Analysis on GBCI
Glacier Bancorp Stock Performance
Shares of GBCI opened at $47.25 on Monday. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 19.36 and a beta of 0.74. The company's fifty day moving average is $50.31 and its 200-day moving average is $48.47. 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, Inc. has a 12 month low of $39.90 and a 12 month high of $54.58.
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 business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. Glacier Bancorp's payout ratio is currently 54.10%.
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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