Peregrine Capital Management LLC Invests $7.75 Million in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Peregrine Capital Management LLC bought a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 175,348 shares of the bank's stock, valued at approximately $7,754,000. Peregrine Capital Management LLC owned 0.15% of Glacier Bancorp at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Wood Tarver Financial Group LLC acquired a new position in Glacier Bancorp in the fourth quarter valued at $33,000. UMB Bank n.a. raised its position in shares of Glacier Bancorp by 114.9% in 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 lifted its stake in shares of Glacier Bancorp by 252.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,398 shares of the bank's stock valued at $62,000 after purchasing an additional 1,001 shares during the period. Bridge Generations Wealth Management LLC acquired a new position in shares of Glacier Bancorp in the 4th quarter valued at about $70,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Glacier Bancorp by 17.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank's stock valued at $144,000 after purchasing an additional 431 shares in the last quarter. Institutional investors own 80.17% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GBCI. Stephens upgraded Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. DA Davidson reiterated a "buy" rating and set a $50.00 target price on shares of Glacier Bancorp in a research report on Wednesday, June 25th. Raymond James Financial restated an "outperform" rating and issued a $48.00 price target (up from $45.00) on shares of Glacier Bancorp in a report on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Glacier Bancorp from $50.00 to $52.00 and gave the company a "market perform" rating in a research note on Friday. Finally, 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. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $50.83.

Glacier Bancorp Stock Up 0.9%

GBCI traded up $0.39 during trading on Monday, hitting $43.21. 956,625 shares of the company's stock were exchanged, compared to its average volume of 655,149. Glacier Bancorp, Inc. has a fifty-two week low of $35.57 and a fifty-two week high of $60.67. The stock has a market cap of $4.91 billion, a P/E ratio of 25.87 and a beta of 0.77. The business's 50 day moving average is $41.78 and its two-hundred day moving average is $45.34. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period last year, the firm posted $0.29 EPS. As a group, equities analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The business 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 $0.33 dividend. The ex-dividend date is Tuesday, July 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.05%. Glacier Bancorp's dividend payout ratio is presently 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.