First Interstate Bank Takes Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

First Interstate Bank bought a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,401 shares of the bank's stock, valued at approximately $593,000.

Several other hedge funds have also modified their holdings of the stock. Capital International Investors lifted its holdings in shares of Glacier Bancorp by 5.8% during the fourth quarter. Capital International Investors now owns 2,092,571 shares of the bank's stock valued at $105,089,000 after purchasing an additional 115,620 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Glacier Bancorp by 7.7% during the fourth quarter. Northern Trust Corp now owns 1,763,983 shares of the bank's stock valued at $88,587,000 after purchasing an additional 126,316 shares during the last quarter. Norges Bank purchased a new stake in shares of Glacier Bancorp during the fourth quarter valued at $56,923,000. Snyder Capital Management L P lifted its stake in Glacier Bancorp by 3.4% in the 4th quarter. Snyder Capital Management L P now owns 1,123,980 shares of the bank's stock worth $56,446,000 after acquiring an additional 37,472 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in Glacier Bancorp by 1.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,062,294 shares of the bank's stock worth $53,348,000 after acquiring an additional 12,035 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Up 1.1%

GBCI stock traded up $0.52 during mid-day trading on Thursday, hitting $46.70. The stock had a trading volume of 887,796 shares, compared to its average volume of 667,120. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67. The company has a fifty day moving average of $42.67 and a 200 day moving average of $45.07. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 27.96 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The bank reported $0.48 EPS for the quarter, beating analysts' consensus estimates 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 last year, the business posted $0.29 EPS. On average, equities analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, July 8th. Glacier Bancorp's dividend payout ratio is 70.97%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GBCI. Raymond James Financial reissued an "outperform" rating and issued a $48.00 price objective (up from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Keefe, Bruyette & Woods increased their price objective 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. Janney Montgomery Scott raised 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. Finally, DA Davidson reaffirmed a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.