M&T Bank Corp Reduces Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

M&T Bank Corp decreased its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 39.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,437 shares of the bank's stock after selling 46,137 shares during the quarter. M&T Bank Corp owned about 0.06% of Glacier Bancorp worth $3,071,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wood Tarver Financial Group LLC bought a new stake in Glacier Bancorp during the fourth quarter worth $33,000. JNBA Financial Advisors bought a new stake in Glacier Bancorp during the first quarter worth $35,000. UMB Bank n.a. grew its holdings in Glacier Bancorp by 114.9% during the first quarter. UMB Bank n.a. now owns 838 shares of the bank's stock worth $37,000 after buying an additional 448 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Glacier Bancorp by 252.1% during the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank's stock worth $62,000 after buying an additional 1,001 shares in the last quarter. Finally, Bridge Generations Wealth Management LLC bought a new stake in Glacier Bancorp during the fourth quarter worth $70,000. Institutional investors own 80.17% of the company's stock.

Analyst Ratings Changes

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

Glacier Bancorp Stock Performance

Shares of NASDAQ GBCI traded down $0.46 during trading on Friday, reaching $46.20. 703,436 shares of the stock traded hands, compared to its average volume of 663,837. Glacier Bancorp, Inc. has a 52-week low of $36.76 and a 52-week high of $60.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average of $42.76 and a 200-day moving average of $44.99. The stock has a market capitalization of $5.24 billion, a P/E ratio of 27.66 and a beta of 0.77.

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 analysts' consensus estimates 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 firm posted $0.29 EPS. Analysts forecast 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 will be paid on Thursday, July 17th. Investors of record on Tuesday, July 8th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.86%. Glacier Bancorp's dividend payout ratio (DPR) is 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.