New York State Common Retirement Fund Trims Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

New York State Common Retirement Fund lowered its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 14.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,600 shares of the bank's stock after selling 20,959 shares during the quarter. New York State Common Retirement Fund owned 0.11% of Glacier Bancorp worth $5,510,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. First Interstate Bank purchased a new stake in Glacier Bancorp in the 1st quarter worth approximately $593,000. Bessemer Group Inc. lifted its holdings in shares of Glacier Bancorp by 1,839.2% during the 1st quarter. Bessemer Group Inc. now owns 9,599 shares of the bank's stock worth $424,000 after acquiring an additional 9,104 shares during the period. GAMMA Investing LLC lifted its holdings in Glacier Bancorp by 4,580.7% during the 1st 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 last quarter. Principal Financial Group Inc. lifted its holdings in Glacier Bancorp by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 262,897 shares of the bank's stock valued at $11,625,000 after purchasing an additional 2,477 shares during the last quarter. Finally, 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. Institutional investors and hedge funds own 80.17% of the company's stock.

Analyst Upgrades and Downgrades

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

Glacier Bancorp Stock Performance

NASDAQ:GBCI traded down $0.54 during midday trading on Thursday, hitting $45.34. The company's stock had a trading volume of 77,468 shares, compared to its average volume of 695,859. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $60.67. The firm's 50 day moving average is $43.24 and its 200-day moving average is $44.77. The firm has a market cap of $5.15 billion, a P/E ratio of 27.16 and a beta of 0.77.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last announced its 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 quarter last year, the business posted $0.29 EPS. Equities analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Tuesday, July 8th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Tuesday, July 8th. Glacier Bancorp's dividend payout ratio is currently 70.97%.

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.