Glacier Bancorp, Inc. $GBCI Stock Holdings Lessened by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP reduced its Glacier Bancorp stake by 8.8% in the third quarter, selling 200,771 shares and retaining 2.09 million shares valued at approximately $90.3 million. Institutional investors and hedge funds collectively own 80.17% of the stock.
• Analyst sentiment is mixed: four analysts rate GBCI a Buy, two a Hold and one a Sell, resulting in a consensus Hold rating and an average price target of $56.40 versus the reported share price of $44.68.
• Glacier Bancorp reported quarterly EPS of $0.76, matching estimates, and increased its quarterly dividend to $0.35 per share from $0.33, equating to a 3.1% annualized yield.

Cooke & Bieler LP lowered its position in Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 8.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,090,366 shares of the company's stock after selling 200,771 shares during the period. Cooke & Bieler LP owned 1.61% of Glacier Bancorp worth $90,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Root Financial Partners LLC increased its holdings in Glacier Bancorp by 122.5% during the 1st quarter. Root Financial Partners LLC now owns 652 shares of the company's stock valued at $29,000 after purchasing an additional 359 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Glacier Bancorp in the 4th quarter valued at $35,000. Assetmark Inc. boosted its stake in Glacier Bancorp by 33.9% in the first quarter. Assetmark Inc. now owns 813 shares of the company's stock worth $36,000 after purchasing an additional 206 shares in the last quarter. Allworth Financial LP acquired a new position in Glacier Bancorp in the second quarter worth $46,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Glacier Bancorp in the second quarter worth $65,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GBCI. DA Davidson restated a "buy" rating and set a $58.00 target price on shares of Glacier Bancorp in a report on Monday, July 27th. Weiss Ratings upgraded Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $56.40.

Insider Transactions at Glacier Bancorp

In other news, Chairman Craig Langel acquired 2,250 shares of Glacier Bancorp stock in a transaction on Friday, August 28th. The shares were purchased at an average price of $47.04 per share, with a total value of $105,840.00. Following the acquisition, the chairman owned 98,684 shares in the company, valued at $4,642,095.36. This represents a 2.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.48% of the company's stock.

Glacier Bancorp Trading Up 0.4%

Shares of NYSE GBCI opened at $44.68 on Thursday. Glacier Bancorp, Inc. has a 1-year low of $39.90 and a 1-year high of $54.58. The company has a market cap of $5.82 billion, a PE ratio of 17.32 and a beta of 0.77. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $45.39 and a two-hundred day moving average of $47.80.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.76. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. The company had revenue of $320.94 million for the quarter. During the same quarter in the previous year, the company posted $0.57 earnings per share. As a group, equities analysts expect that Glacier Bancorp, Inc. will post 3.10 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, October 6th were given a $0.35 dividend. This is a boost from Glacier Bancorp's previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, October 6th. This represents a $1.40 annualized dividend and a yield of 3.1%. Glacier Bancorp's dividend payout ratio is presently 57.38%.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a regional bank holding company headquartered in Kalispell, Montana. Through its banking subsidiaries, including Glacier Bank, the company provides financial services to individuals, families, businesses and community organizations across the Mountain West and Inland Northwest.

The company's products and services include checking and savings accounts, certificates of deposit, consumer and residential mortgages, commercial and real estate lending, agricultural loans, cash-management services and online and mobile banking.

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