13,401 Shares in Glacier Bancorp, Inc. (NASDAQ:GBCI) Bought by First Interstate Bank

First Interstate Bank acquired a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,401 shares of the bank's stock, valued at approximately $593,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. US Bancorp DE boosted its stake in Glacier Bancorp by 17.4% during the 4th quarter. US Bancorp DE now owns 15,792 shares of the bank's stock valued at $793,000 after purchasing an additional 2,337 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Glacier Bancorp by 19.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,533 shares of the bank's stock valued at $177,000 after purchasing an additional 578 shares in the last quarter. Keybank National Association OH boosted its stake in shares of Glacier Bancorp by 8.6% during the 4th quarter. Keybank National Association OH now owns 6,885 shares of the bank's stock worth $346,000 after acquiring an additional 545 shares in the last quarter. Atria Investments Inc boosted its stake in shares of Glacier Bancorp by 12.0% during the 4th quarter. Atria Investments Inc now owns 16,395 shares of the bank's stock worth $823,000 after acquiring an additional 1,752 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Glacier Bancorp during the 4th quarter worth $716,000. 80.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on GBCI. Janney Montgomery Scott raised Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price objective for the company in a research note on Thursday, June 5th. DA Davidson restated a "buy" rating and issued a $50.00 target price on shares of Glacier Bancorp in a report on Wednesday, June 25th. Keefe, Bruyette & Woods increased their target price on Glacier Bancorp from $50.00 to $52.00 and gave the company a "market perform" rating in a report on Friday, June 27th. Finally, Raymond James Financial restated an "outperform" rating and issued a $48.00 target price (up previously from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $50.83.

Glacier Bancorp Price Performance

GBCI traded down $0.46 during midday trading on Friday, reaching $46.20. 703,436 shares of the company's stock were exchanged, compared to its average volume of 663,837. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 27.66 and a beta of 0.77. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a one year low of $36.76 and a one year high of $60.67. The business has a 50-day simple moving average of $42.76 and a two-hundred day simple moving average of $44.99.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the previous year, the company earned $0.29 earnings per share. As a group, research analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, July 8th. Glacier Bancorp's dividend payout ratio is 70.97%.

About Glacier Bancorp

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.