Victory Capital Management Inc. Has $60.20 Million Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Victory Capital Management Inc. grew its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,361,329 shares of the bank's stock after buying an additional 113,544 shares during the quarter. Victory Capital Management Inc. owned about 1.20% of Glacier Bancorp worth $60,198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in GBCI. Norges Bank purchased a new position in shares of Glacier Bancorp in the fourth quarter worth approximately $56,923,000. Millennium Management LLC boosted its holdings in shares of Glacier Bancorp by 4,600.1% during the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank's stock worth $47,010,000 after purchasing an additional 916,163 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Glacier Bancorp by 76.0% during the fourth quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock worth $28,192,000 after purchasing an additional 242,414 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Glacier Bancorp during the fourth quarter worth approximately $9,544,000. Finally, Prudential Financial Inc. boosted its holdings in shares of Glacier Bancorp by 1,114.9% during the fourth quarter. Prudential Financial Inc. now owns 191,816 shares of the bank's stock worth $9,633,000 after purchasing an additional 176,028 shares during the period. Institutional investors and hedge funds own 80.17% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. 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. Raymond James Financial reaffirmed an "outperform" rating and set a $48.00 target price (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. DA Davidson reaffirmed a "buy" rating and set a $50.00 target price on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Finally, Janney Montgomery Scott raised shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 price target on the stock in a report on Thursday, June 5th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Glacier Bancorp has an average rating of "Moderate Buy" and a consensus price target of $50.83.

Glacier Bancorp Stock Up 1.5%

GBCI stock traded up $0.68 during mid-day trading on Tuesday, hitting $45.87. 920,453 shares of the company were exchanged, compared to its average volume of 660,531. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $5.21 billion, a P/E ratio of 27.46 and a beta of 0.77. The firm's 50 day simple moving average is $43.14 and its 200 day simple moving average is $44.79. Glacier Bancorp, Inc. has a 1-year low of $36.76 and a 1-year high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 firm earned $0.29 earnings per share. On average, sell-side analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Tuesday, July 8th. Glacier Bancorp's dividend payout ratio is currently 70.97%.

Glacier Bancorp Company 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.