Northern Trust Corp Raises Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Northern Trust Corp increased its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,763,983 shares of the bank's stock after acquiring an additional 126,316 shares during the period. Northern Trust Corp owned approximately 1.56% of Glacier Bancorp worth $88,587,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GBCI. Norges Bank purchased a new stake in Glacier Bancorp during the 4th quarter valued at about $56,923,000. Madison Investment Advisors LLC purchased a new stake in shares of Glacier Bancorp during the fourth quarter valued at approximately $47,770,000. JPMorgan Chase & Co. increased its position in shares of Glacier Bancorp by 76.0% during the fourth quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock valued at $28,192,000 after acquiring an additional 242,414 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Glacier Bancorp in the 4th quarter worth approximately $9,544,000. Finally, Prudential Financial Inc. lifted its position in Glacier Bancorp by 1,114.9% in the 4th quarter. Prudential Financial Inc. now owns 191,816 shares of the bank's stock valued at $9,633,000 after acquiring an additional 176,028 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company's stock.

Glacier Bancorp Stock Performance

GBCI stock traded down $0.17 during trading on Friday, reaching $42.16. The stock had a trading volume of 343,577 shares, compared to its average volume of 618,080. The firm has a market cap of $4.79 billion, a PE ratio of 25.25 and a beta of 0.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock's 50 day moving average is $42.23 and its two-hundred day moving average is $48.73. Glacier Bancorp, Inc. has a 52 week low of $34.48 and a 52 week high of $60.67.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) 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 in the prior year, the business earned $0.29 EPS. As a group, equities analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 dividend on an annualized basis and a yield of 3.13%. Glacier Bancorp's dividend payout ratio is currently 70.97%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Stephens upgraded Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Piper Sandler decreased their target price on Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Keefe, Bruyette & Woods dropped their price target on shares of Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Finally, Raymond James set a $45.00 price target on shares of Glacier Bancorp in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $50.50.

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.