Envestnet Asset Management Inc. Purchases 6,806 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Envestnet Asset Management Inc. lifted its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,263 shares of the bank's stock after acquiring an additional 6,806 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of Glacier Bancorp worth $8,369,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC grew its position in Glacier Bancorp by 143.2% during the fourth quarter. HighTower Advisors LLC now owns 14,307 shares of the bank's stock valued at $718,000 after purchasing an additional 8,425 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in Glacier Bancorp in the fourth quarter worth approximately $222,000. Xponance Inc. grew its position in Glacier Bancorp by 4.6% in the fourth quarter. Xponance Inc. now owns 16,128 shares of the bank's stock worth $810,000 after acquiring an additional 702 shares in the last quarter. American Century Companies Inc. grew its position in Glacier Bancorp by 1.4% in the fourth quarter. American Century Companies Inc. now owns 35,404 shares of the bank's stock worth $1,778,000 after acquiring an additional 487 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Glacier Bancorp in the fourth quarter worth approximately $1,159,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock traded up $0.74 on Friday, reaching $45.30. The stock had a trading volume of 900,773 shares, compared to its average volume of 702,171. The stock has a market cap of $5.14 billion, a P/E ratio of 27.13 and a beta of 0.77. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $60.67. The business's 50-day moving average price is $43.32 and its two-hundred day moving average price is $44.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter last year, the firm earned $0.39 EPS. On average, sell-side analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Tuesday, July 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.91%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp's payout ratio is currently 68.75%.

Glacier Bancorp 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.