Glacier Bancorp, Inc. $GBCI Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Glacier Bancorp stake by 23.4% in the first quarter, buying 29,000 additional shares to own 152,855 shares worth approximately $6.8 million.
• Institutional investors hold 80.17% of Glacier Bancorp, with major holders including Vanguard, State Street and Norges Bank. The stock recently traded at $50.05, down 1.8%, with a market capitalization of $6.51 billion.
• Glacier Bancorp matched quarterly earnings expectations at $0.76 per share and maintains a quarterly dividend of $0.33, yielding 2.6%. Analysts’ consensus rating is “Hold,” with an average price target of $55.17.

California State Teachers Retirement System grew its position in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 23.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 152,855 shares of the company's stock after buying an additional 29,000 shares during the period. California State Teachers Retirement System owned about 0.12% of Glacier Bancorp worth $6,828,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Glacier Bancorp in the fourth quarter worth $67,582,000. Vanguard Group Inc. raised 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. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Glacier Bancorp during the first quarter worth $33,197,000. Balyasny Asset Management L.P. bought a new position in shares of Glacier Bancorp in the 2nd quarter worth about $24,362,000. Finally, State Street Corp lifted its position in shares of Glacier Bancorp by 9.9% in the 4th quarter. State Street Corp now owns 6,178,363 shares of the company's stock worth $272,157,000 after buying an additional 557,873 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company's stock.

Glacier Bancorp Trading Down 1.8%

Glacier Bancorp stock opened at $50.05 on Thursday. Glacier Bancorp, Inc. has a 12-month low of $39.90 and a 12-month high of $54.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $6.51 billion, a PE ratio of 20.51 and a beta of 0.74. The firm has a 50 day simple moving average of $50.02 and a 200-day simple moving average of $48.49.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. The firm had revenue of $320.94 million for the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same period in the previous year, the firm earned $0.57 EPS. As a group, equities research analysts expect that Glacier Bancorp, Inc. will post 3.15 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were issued a $0.33 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. Glacier Bancorp's dividend payout ratio is 54.10%.

Analysts Set New Price Targets

Several research firms recently weighed in on GBCI. Stephens increased their price objective on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Piper Sandler lifted their target price on Glacier Bancorp from $59.00 to $60.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. DA Davidson reaffirmed a "buy" rating and set a $58.00 target price on shares of Glacier Bancorp in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Glacier Bancorp in a research report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Glacier Bancorp currently has an average rating of "Hold" and a consensus target price of $55.17.

Glacier Bancorp Company Profile

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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