Bessemer Group Inc. Grows Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Bessemer Group Inc. grew its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 1,839.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,599 shares of the bank's stock after buying an additional 9,104 shares during the quarter. Bessemer Group Inc.'s holdings in Glacier Bancorp were worth $424,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GBCI. GAMMA Investing LLC boosted its holdings in shares of Glacier Bancorp by 4,580.7% in the first quarter. GAMMA Investing LLC now owns 142,388 shares of the bank's stock valued at $6,296,000 after purchasing an additional 139,346 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Glacier Bancorp in the 4th quarter worth $716,000. Raymond James Financial Inc. bought a new position in shares of Glacier Bancorp during the 4th quarter worth $9,544,000. JPMorgan Chase & Co. increased its stake 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 valued at $28,192,000 after buying an additional 242,414 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Glacier Bancorp in the fourth quarter valued at about $281,000. Institutional investors own 80.17% of the company's stock.

Glacier Bancorp Trading Up 2.2%

NASDAQ:GBCI traded up $1.01 during trading hours on Wednesday, reaching $46.45. 1,102,348 shares of the stock were exchanged, compared to its average volume of 659,679. Glacier Bancorp, Inc. has a twelve month low of $35.57 and a twelve month 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. The business has a 50-day moving average of $41.96 and a two-hundred day moving average of $45.26. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 27.81 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same quarter in the previous year, the business posted $0.29 earnings per share. On average, equities analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Tuesday, July 8th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.84%. Glacier Bancorp's dividend payout ratio (DPR) is presently 70.97%.

Analyst Ratings Changes

GBCI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price target on Glacier Bancorp from $50.00 to $52.00 and gave the company a "market perform" rating in a report on Friday, June 27th. Janney Montgomery Scott upgraded shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price for the company in a report on Thursday, June 5th. Raymond James Financial restated an "outperform" rating and issued a $48.00 price target (up from $45.00) on shares of Glacier Bancorp in a report on Thursday, June 26th. Finally, DA Davidson reiterated a "buy" rating and set a $50.00 price objective on shares of Glacier Bancorp in a research note on Wednesday, June 25th. 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. Based on data from MarketBeat.com, Glacier Bancorp has a consensus rating of "Moderate Buy" and an average price target of $50.83.

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.