Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 168.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 12,348 shares of the bank's stock after buying an additional 7,751 shares during the period. Tower Research Capital LLC TRC's holdings in Glacier Bancorp were worth $620,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Capital International Investors lifted its holdings in Glacier Bancorp by 5.8% in the fourth quarter. Capital International Investors now owns 2,092,571 shares of the bank's stock valued at $105,089,000 after acquiring an additional 115,620 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Glacier Bancorp by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank's stock valued at $59,988,000 after purchasing an additional 52,566 shares in the last quarter. Norges Bank acquired a new position in shares of Glacier Bancorp in the 4th quarter valued at $56,923,000. Segall Bryant & Hamill LLC boosted its holdings in Glacier Bancorp by 1.1% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,062,294 shares of the bank's stock worth $53,348,000 after buying an additional 12,035 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Glacier Bancorp by 19.9% during the fourth quarter. Fisher Asset Management LLC now owns 984,056 shares of the bank's stock valued at $49,419,000 after buying an additional 163,061 shares during the period. Hedge funds and other institutional investors own 80.17% of the company's stock.

Wall Street Analyst Weigh In

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

Glacier Bancorp Price Performance

GBCI stock traded up $0.84 during trading on Friday, hitting $41.90. The stock had a trading volume of 915,363 shares, compared to its average volume of 618,591. The company's 50-day moving average price is $42.86 and its two-hundred day moving average price is $48.92. Glacier Bancorp, Inc. has a twelve month low of $34.48 and a twelve month high of $60.67. The stock has a market capitalization of $4.75 billion, a P/E ratio of 25.09 and a beta of 0.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings results 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 return on equity of 5.98% and a net margin of 14.99%. During the same period last year, the firm earned $0.29 EPS. As a group, research analysts predict that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Tuesday, April 8th. Glacier Bancorp's dividend payout ratio (DPR) is 70.97%.

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.