NFJ Investment Group LLC Buys Shares of 777,998 Glacier Bancorp, Inc. $GBCI

Key Points

• NFJ Investment Group acquired 777,998 Glacier Bancorp shares worth approximately $40.1 million, representing about 0.60% of the bank and 1.4% of NFJ’s portfolio. Institutional investors collectively own 80.17% of GBCI.
• Glacier Bancorp reported quarterly earnings of $0.76 per share, matching analyst estimates, on $320.94 million in revenue. Analysts expect full-year EPS of $3.11.
• The company pays a quarterly dividend of $0.33 per share, or $1.32 annually, yielding approximately 2.8%. Wall Street’s consensus rating is “Moderate Buy,” with an average price target of $55.17 versus the stock’s reported $47.26 price.

NFJ Investment Group LLC bought a new position in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 777,998 shares of the company's stock, valued at approximately $40,129,000. Glacier Bancorp comprises 1.4% of NFJ Investment Group LLC's holdings, making the stock its 20th largest holding. NFJ Investment Group LLC owned approximately 0.60% of Glacier Bancorp as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Glacier Bancorp by 30.9% during the 1st quarter. AQR Capital Management LLC now owns 31,176 shares of the company's stock worth $1,358,000 after acquiring an additional 7,359 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Glacier Bancorp by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the company's stock valued at $59,799,000 after purchasing an additional 73,756 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Glacier Bancorp by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the company's stock valued at $15,587,000 after purchasing an additional 26,157 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Glacier Bancorp by 218.8% during the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company's stock worth $31,000 after purchasing an additional 490 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Glacier Bancorp in the 2nd quarter valued at $2,011,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

GBCI opened at $47.26 on Friday. The business's 50-day moving average price is $50.36 and its two-hundred day moving average price is $48.49. Glacier Bancorp, Inc. has a 1 year low of $39.90 and a 1 year high of $54.58. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 19.37 and a beta of 0.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. The company had revenue of $320.94 million during the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same period in the prior year, the company earned $0.57 earnings per share. Equities analysts expect that Glacier Bancorp, Inc. will post 3.11 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.8%. Glacier Bancorp's dividend payout ratio is 54.10%.

Wall Street Analyst Weigh In

GBCI has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on Glacier Bancorp from $59.00 to $60.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. DA Davidson reiterated a "buy" rating and issued a $58.00 price objective on shares of Glacier Bancorp in a research report on Monday, July 27th. Stephens increased their target price on Glacier Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of Glacier Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $55.17.

About Glacier Bancorp

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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