M&T Bank Corp Has $3.07 Million Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

M&T Bank Corp lessened its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 39.9% during the first quarter, according to the company in its most recent 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 period. M&T Bank Corp owned about 0.06% of Glacier Bancorp worth $3,071,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GBCI. Wood Tarver Financial Group LLC acquired a new position in shares of Glacier Bancorp during the 4th quarter worth approximately $33,000. JNBA Financial Advisors acquired a new stake in shares of Glacier Bancorp during the 1st quarter worth approximately $35,000. UMB Bank n.a. boosted its position in shares of Glacier Bancorp by 114.9% during the 1st quarter. UMB Bank n.a. now owns 838 shares of the bank's stock worth $37,000 after acquiring an additional 448 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Glacier Bancorp by 252.1% in the first quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank's stock valued at $62,000 after buying an additional 1,001 shares in the last quarter. Finally, Bridge Generations Wealth Management LLC bought a new position in shares of Glacier Bancorp during the fourth quarter valued at $70,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Glacier Bancorp Price Performance

GBCI traded down $2.35 on Tuesday, hitting $44.35. 754,353 shares of the company's stock were exchanged, compared to its average volume of 664,297. The firm has a 50-day moving average price of $42.86 and a 200-day moving average price of $44.93. 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 stock has a market cap of $5.03 billion, a price-to-earnings ratio of 26.55 and a beta of 0.77. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (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 period in the prior year, the business earned $0.29 earnings per share. As a group, equities analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Tuesday, July 8th. Glacier Bancorp's payout ratio is currently 70.97%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Janney Montgomery Scott upgraded 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. Raymond James Financial reissued an "outperform" rating and issued a $48.00 price target (up previously from $45.00) on shares of Glacier Bancorp in a research report on Thursday, June 26th. Keefe, Bruyette & Woods increased their price target on shares of Glacier Bancorp from $50.00 to $52.00 and gave the stock a "market perform" rating in a report on Friday, June 27th. Finally, DA Davidson reissued a "buy" rating and set a $50.00 price target 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 issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Glacier Bancorp has a consensus rating of "Moderate Buy" and an average price target of $50.83.

About Glacier Bancorp

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.