Rhumbline Advisers Cuts Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Rhumbline Advisers lessened its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 3.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 376,639 shares of the bank's stock after selling 12,021 shares during the quarter. Rhumbline Advisers owned about 0.33% of Glacier Bancorp worth $16,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in Glacier Bancorp in the fourth quarter worth about $716,000. Raymond James Financial Inc. bought a new position in shares of Glacier Bancorp in the fourth quarter worth approximately $9,544,000. JPMorgan Chase & Co. lifted 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 buying an additional 242,414 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Glacier Bancorp in the fourth quarter worth approximately $281,000. Finally, Bridge City Capital LLC lifted its stake in shares of Glacier Bancorp by 8.1% in the fourth quarter. Bridge City Capital LLC now owns 161,370 shares of the bank's stock worth $8,104,000 after buying an additional 12,039 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company's stock.

Glacier Bancorp Stock Up 2.1%

Shares of Glacier Bancorp stock opened at $42.38 on Friday. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 25.38 and a beta of 0.77. The company's 50 day moving average is $41.08 and its 200 day moving average is $47.03. Glacier Bancorp, Inc. has a twelve month low of $34.48 and a twelve month high of $60.67. 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 issued its quarterly earnings data on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, beating 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 quarter in the prior year, the business earned $0.29 EPS. Research analysts anticipate that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were given a $0.33 dividend. The ex-dividend date was Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.11%. Glacier Bancorp's payout ratio is presently 70.97%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GBCI shares. Keefe, Bruyette & Woods dropped their target price on shares of Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Janney Montgomery Scott upgraded shares of Glacier Bancorp from a "neutral" rating to a "buy" rating and set a $48.00 target price on the stock in a research note on Thursday. Raymond James set a $45.00 target price on shares of Glacier Bancorp in a research note on Monday, April 28th. Finally, Stephens upgraded shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.00.

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.

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