Geode Capital Management LLC Has $146.74 Million Position in Glacier Bancorp, Inc. $GBCI

Key Points

• Geode Capital Management increased its Glacier Bancorp stake by 7.7% in the fourth quarter, lifting its holdings to 3.33 million shares valued at about $146.74 million.
• Glacier Bancorp’s stock was up 2.6% to $47.22, and the company reported quarterly EPS of $0.70, beating estimates by $0.03. Analysts currently expect full-year EPS of 3.16.
• The bank paid a $0.33 quarterly dividend, or $1.32 annualized, for a 2.8% yield. Wall Street’s consensus rating remains Hold, with a consensus target price of $55.17.

Geode Capital Management LLC raised its stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,330,658 shares of the company's stock after buying an additional 237,316 shares during the period. Geode Capital Management LLC owned about 2.56% of Glacier Bancorp worth $146,736,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GBCI. AQR Capital Management LLC boosted its stake in shares of Glacier Bancorp by 30.9% during the 1st quarter. AQR Capital Management LLC now owns 31,176 shares of the company's stock valued at $1,358,000 after buying an additional 7,359 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Glacier Bancorp by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the company's stock valued at $59,799,000 after buying an additional 73,756 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Glacier Bancorp by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the company's stock valued at $15,587,000 after buying an additional 26,157 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company's stock valued at $31,000 after buying an additional 490 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Glacier Bancorp during the 2nd quarter valued at $2,011,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Glacier Bancorp Stock Up 2.6%

GBCI stock opened at $47.22 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. Glacier Bancorp, Inc. has a 1 year low of $39.90 and a 1 year high of $53.99. The company has a fifty day simple moving average of $47.32 and a 200 day simple moving average of $46.56. The firm has a market cap of $6.15 billion, a PE ratio of 22.07 and a beta of 0.74.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. The business had revenue of $309.61 million during the quarter. During the same period in the previous year, the firm posted $0.48 EPS. Sell-side analysts anticipate that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Tuesday, April 7th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, April 7th. Glacier Bancorp's payout ratio is presently 61.68%.

Wall Street Analysts Forecast Growth

GBCI has been the subject of a number of research reports. Janney Montgomery Scott initiated coverage on shares of Glacier Bancorp in a research note on Tuesday, February 10th. They set a "neutral" rating and a $55.00 target price for the company. Brean Capital lowered shares of Glacier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 10th. Stephens lifted their target price on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. DA Davidson lifted their target price on shares of Glacier Bancorp from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Finally, Piper Sandler lifted their target price on shares of Glacier Bancorp from $59.00 to $60.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $55.17.

About Glacier Bancorp

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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