Pinebridge Investments L.P. Has $3.17 Million Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Pinebridge Investments L.P. boosted its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 42.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,205 shares of the bank's stock after purchasing an additional 18,907 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.06% of Glacier Bancorp worth $3,174,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Glacier Bancorp in the fourth quarter valued at about $56,923,000. Madison Investment Advisors LLC acquired a new stake in shares of Glacier Bancorp during the 4th quarter valued at about $47,770,000. JPMorgan Chase & Co. increased its holdings in 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Glacier Bancorp in the 4th quarter valued at $9,544,000. Finally, Prudential Financial Inc. increased 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 worth $9,633,000 after buying an additional 176,028 shares during the period. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Stock Up 0.7 %

NASDAQ GBCI traded up $0.28 on Thursday, reaching $41.04. The company had a trading volume of 91,090 shares, compared to its average volume of 613,616. The company's fifty day moving average is $43.11 and its 200-day moving average is $49.01. Glacier Bancorp, Inc. has a 1-year low of $34.48 and a 1-year high of $60.67. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 24.58 and a beta of 0.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last released its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same period in the prior year, the company earned $0.29 EPS. On average, research analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 annualized dividend and a dividend yield of 3.22%. Glacier Bancorp's dividend payout ratio is currently 70.97%.

Analyst Ratings Changes

A number of research analysts have recently commented on GBCI shares. Stephens raised shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. Raymond James set a $45.00 price objective on Glacier Bancorp in a report on Monday. Keefe, Bruyette & Woods dropped their target price on Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating for the company in a report on Monday. Finally, Piper Sandler lowered their price target on Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. One 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's stock. According to MarketBeat, Glacier Bancorp presently has an average rating of "Hold" and an average target price of $50.50.

About Glacier Bancorp

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.