Bank of America Corp DE Cuts Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Bank of America Corp DE cut its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 23.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 259,702 shares of the bank's stock after selling 80,180 shares during the quarter. Bank of America Corp DE owned about 0.23% of Glacier Bancorp worth $13,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GBCI. Barclays PLC grew its position in shares of Glacier Bancorp by 65.6% in the 3rd quarter. Barclays PLC now owns 247,717 shares of the bank's stock worth $11,321,000 after acquiring an additional 98,158 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Glacier Bancorp in the 4th quarter worth approximately $716,000. Raymond James Financial Inc. bought a new position in shares of Glacier Bancorp during the fourth quarter valued at $9,544,000. JPMorgan Chase & Co. raised its stake in shares of Glacier Bancorp by 76.0% in the fourth quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock worth $28,192,000 after acquiring an additional 242,414 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Glacier Bancorp during the 4th quarter worth $281,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on GBCI. Stephens upgraded Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods decreased their target price on shares of Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Finally, Raymond James set a $45.00 price objective on shares of Glacier Bancorp in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $50.50.

Glacier Bancorp Stock Performance

GBCI traded down $0.31 during trading on Wednesday, hitting $41.44. The company's stock had a trading volume of 16,041 shares, compared to its average volume of 631,705. The firm has a market cap of $4.70 billion, a PE ratio of 24.78 and a beta of 0.79. The business's 50 day simple moving average is $41.58 and its 200-day simple moving average is $47.86. Glacier Bancorp, Inc. has a one year low of $34.48 and a one year high of $60.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The bank reported $0.48 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the firm posted $0.29 earnings per share. As a group, sell-side analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.19%. Glacier Bancorp's dividend payout ratio (DPR) is presently 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.