Vanguard Group Inc. Purchases 870,335 Shares of Glacier Bancorp, Inc. $GBCI

Key Points

• Vanguard Group Inc. increased its stake in Glacier Bancorp by 7%, adding 870,335 shares to hold 13,359,157 shares — roughly 10.28% of the company valued at about $588.5 million.
• Glacier Bancorp beat quarterly EPS estimates ($0.70 vs. $0.67) on $309.6 million of revenue and pays a $0.33 quarterly dividend (annualized $1.32, ~2.7% yield, DPR ~61.7%).
• Analysts have an average rating of Hold with a $55.17 consensus target (4 Buy, 3 Hold, 1 Sell), and the stock trades around $48.16 with a 52‑week range of $39.90–$53.99.

Vanguard Group Inc. increased its position in shares of Glacier Bancorp, Inc. (NYSE:GBCI - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,359,157 shares of the company's stock after buying an additional 870,335 shares during the period. Vanguard Group Inc. owned 10.28% of Glacier Bancorp worth $588,471,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GBCI. Balyasny Asset Management L.P. bought a new stake in shares of Glacier Bancorp during the 2nd quarter worth $24,362,000. Bank of America Corp DE boosted its holdings in Glacier Bancorp by 113.0% in the 3rd quarter. Bank of America Corp DE now owns 872,117 shares of the company's stock valued at $42,446,000 after purchasing an additional 462,711 shares during the period. Deprince Race & Zollo Inc. boosted its holdings in Glacier Bancorp by 30.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company's stock valued at $73,229,000 after purchasing an additional 390,366 shares during the period. Freestone Grove Partners LP boosted its holdings in Glacier Bancorp by 24.8% in the 3rd quarter. Freestone Grove Partners LP now owns 1,385,589 shares of the company's stock valued at $67,437,000 after purchasing an additional 275,209 shares during the period. Finally, Capital International Investors boosted its holdings in Glacier Bancorp by 17.1% in the 3rd 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. 80.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GBCI shares. Janney Montgomery Scott started coverage on shares of Glacier Bancorp in a report on Tuesday, February 10th. They issued a "neutral" rating and a $55.00 price target for the company. Stephens increased their price objective on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. DA Davidson increased their price objective on shares of Glacier Bancorp from $53.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Wall Street Zen upgraded shares of Glacier Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, Brean Capital cut shares of Glacier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 10th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $55.17.

Glacier Bancorp Trading Down 1.9%

Shares of GBCI stock opened at $48.16 on Tuesday. Glacier Bancorp, Inc. has a 52-week low of $39.90 and a 52-week high of $53.99. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 22.50 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a fifty day moving average of $46.30 and a 200-day moving average of $45.79.

Glacier Bancorp (NYSE:GBCI - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.03. The company had revenue of $309.61 million during the quarter. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. During the same quarter in the prior year, the company posted $0.48 EPS. On average, equities research analysts forecast that Glacier Bancorp, Inc. will post 3.16 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

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

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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