Russell Investments Group Ltd. decreased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI – Get Rating) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,916 shares of the bank’s stock after selling 3,394 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Glacier Bancorp worth $4,619,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of GBCI. Allspring Global Investments Holdings LLC purchased a new stake in shares of Glacier Bancorp in the fourth quarter worth about $2,074,000. Commonwealth Equity Services LLC purchased a new stake in shares of Glacier Bancorp in the fourth quarter worth about $884,000. Qube Research & Technologies Ltd purchased a new stake in shares of Glacier Bancorp in the fourth quarter worth about $518,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Glacier Bancorp by 33.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,909 shares of the bank’s stock worth $732,000 after buying an additional 3,214 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Glacier Bancorp by 9.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 35,089 shares of the bank’s stock worth $1,990,000 after buying an additional 3,130 shares during the period. Hedge funds and other institutional investors own 68.64% of the company’s stock.
Glacier Bancorp Trading Up 1.4 %
Shares of GBCI opened at $52.41 on Thursday. The company has a market capitalization of $5.81 billion, a P/E ratio of 20.55 and a beta of 0.83. Glacier Bancorp, Inc. has a one year low of $44.43 and a one year high of $60.69. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50-day moving average price of $48.43 and a 200 day moving average price of $49.54.
Glacier Bancorp (NASDAQ:GBCI – Get Rating) last released its earnings results on Thursday, July 21st. The bank reported $0.69 EPS for the quarter, hitting analysts’ consensus estimates of $0.69. Glacier Bancorp had a return on equity of 9.50% and a net margin of 30.72%. The company had revenue of $221.72 million for the quarter, compared to the consensus estimate of $225.85 million. During the same quarter last year, the business posted $0.81 EPS. Sell-side analysts forecast that Glacier Bancorp, Inc. will post 2.8 EPS for the current fiscal year.
Glacier Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Shareholders of record on Tuesday, July 12th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Monday, July 11th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio (DPR) is currently 51.76%.
Wall Street Analyst Weigh In
A number of brokerages recently commented on GBCI. Truist Financial reduced their price target on Glacier Bancorp from $54.00 to $53.00 in a report on Wednesday, June 15th. StockNews.com downgraded Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, May 28th.
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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposit, negotiated-rate jumbo certificates, and individual retirement accounts.
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