M&T Bank Corp Reduces Stock Position in Glacier Bancorp, Inc. $GBCI

Key Points

• M&T Bank Corp reduced its stake in Glacier Bancorp by 84.7% in Q4, selling 59,236 shares and retaining 10,659 shares valued at roughly $470,000.
• Glacier Bancorp reported quarterly EPS of $0.70 (beating the $0.67 estimate) on $306.8M revenue, and pays a quarterly dividend of $0.33 (annualized $1.32, yield ~2.7%, DPR ~61.7%).
• Analysts are mixed—the consensus rating is "Hold" with an average price target of $55.17—while the stock trades near $49, has a market cap of about $6.38B and a P/E of ~22.9.

M&T Bank Corp lessened its stake in Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 84.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,659 shares of the company's stock after selling 59,236 shares during the quarter. M&T Bank Corp's holdings in Glacier Bancorp were worth $470,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GBCI. CENTRAL TRUST Co purchased a new position in Glacier Bancorp in the third quarter valued at $594,000. Natixis Advisors LLC boosted its holdings in Glacier Bancorp by 15.0% in the third quarter. Natixis Advisors LLC now owns 562,404 shares of the company's stock valued at $27,372,000 after purchasing an additional 73,545 shares during the period. Capital International Investors boosted its holdings in Glacier Bancorp by 17.1% in the third quarter. Capital International Investors now owns 1,742,780 shares of the company's stock valued at $84,821,000 after purchasing an additional 254,514 shares during the period. TrueMark Investments LLC purchased a new position in Glacier Bancorp in the third quarter valued at $3,229,000. Finally, American National Bank & Trust purchased a new position in Glacier Bancorp in the fourth quarter valued at $4,821,000. Hedge funds and other institutional investors own 80.17% of the company's stock.

Glacier Bancorp Stock Up 0.0%

Glacier Bancorp stock opened at $49.07 on Friday. Glacier Bancorp, Inc. has a 1-year low of $39.90 and a 1-year high of $53.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $6.38 billion, a PE ratio of 22.93 and a beta of 0.76. The stock's fifty day moving average is $46.30 and its two-hundred day moving average is $45.82.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.03. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.The company had revenue of $306.76 million for the quarter. During the same quarter in the prior year, the business earned $0.48 earnings per share. On average, sell-side analysts expect that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Tuesday, April 7th were paid a $0.33 dividend. The ex-dividend date was Tuesday, April 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. Glacier Bancorp's dividend payout ratio (DPR) is currently 61.68%.

Analyst Ratings Changes

A number of research analysts recently issued reports on GBCI shares. Stephens lifted their target price on Glacier Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a report on Wednesday. Wall Street Zen upgraded Glacier Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Keefe, Bruyette & Woods reiterated an "underperform" rating on shares of Glacier Bancorp in a report on Monday, January 26th. DA Davidson lifted their target price on Glacier Bancorp from $53.00 to $58.00 and gave the company a "buy" rating in a report on Monday, April 27th. Finally, Weiss Ratings upgraded Glacier Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $55.17.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.

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