Royal Bank of Canada Increases Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Royal Bank of Canada raised its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 358,752 shares of the bank's stock after acquiring an additional 38,202 shares during the period. Royal Bank of Canada owned approximately 0.32% of Glacier Bancorp worth $18,017,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Signaturefd LLC raised its position in Glacier Bancorp by 5.3% during the fourth quarter. Signaturefd LLC now owns 3,978 shares of the bank's stock valued at $200,000 after acquiring an additional 201 shares in the last quarter. Piedmont Capital Management LLC lifted its stake in shares of Glacier Bancorp by 4.5% in the fourth quarter. Piedmont Capital Management LLC now owns 5,256 shares of the bank's stock worth $262,000 after buying an additional 224 shares in the last quarter. Arizona State Retirement System lifted its stake in Glacier Bancorp by 0.8% in the 4th quarter. Arizona State Retirement System now owns 32,909 shares of the bank's stock worth $1,653,000 after purchasing an additional 259 shares in the last quarter. Mariner LLC lifted its position in Glacier Bancorp by 2.4% during the fourth quarter. Mariner LLC now owns 12,430 shares of the bank's stock worth $624,000 after buying an additional 292 shares in the last quarter. Finally, Financial Advocates Investment Management raised its holdings in shares of Glacier Bancorp by 1.9% during the 4th quarter. Financial Advocates Investment Management now owns 16,267 shares of the bank's stock worth $817,000 after acquiring an additional 311 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GBCI has been the topic of a number of recent analyst reports. Stephens upgraded Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Raymond James set a $45.00 price objective on Glacier Bancorp in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $50.50.

Glacier Bancorp Trading Down 0.1%

Glacier Bancorp stock traded down $0.04 during midday trading on Friday, reaching $41.73. 31,960 shares of the stock traded hands, compared to its average volume of 633,247. The firm has a market cap of $4.74 billion, a PE ratio of 24.96 and a beta of 0.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $41.44 and a two-hundred day simple moving average of $47.70. Glacier Bancorp, Inc. has a 12-month low of $34.48 and a 12-month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The bank reported $0.48 EPS 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 posted $0.29 earnings per share. Research analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.16%. Glacier Bancorp's dividend payout ratio (DPR) is 70.97%.

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.