Capstone Asset Management Co. Lowers Stake in Glacier Bancorp, Inc. (GBCI)

Capstone Asset Management Co. cut its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 15.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,159 shares of the bank’s stock after selling 2,660 shares during the period. Capstone Asset Management Co.’s holdings in Glacier Bancorp were worth $480,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GBCI. Mairs & Power INC bought a new stake in Glacier Bancorp during the third quarter valued at about $9,911,000. Riverhead Capital Management LLC raised its stake in Glacier Bancorp by 34.9% in the third quarter. Riverhead Capital Management LLC now owns 3,800 shares of the bank’s stock valued at $108,000 after buying an additional 984 shares in the last quarter. Principal Financial Group Inc. raised its stake in Glacier Bancorp by 2.6% in the third quarter. Principal Financial Group Inc. now owns 561,447 shares of the bank’s stock valued at $16,013,000 after buying an additional 14,132 shares in the last quarter. Northern Trust Corp raised its stake in Glacier Bancorp by 1.5% in the third quarter. Northern Trust Corp now owns 1,250,383 shares of the bank’s stock valued at $35,661,000 after buying an additional 18,606 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in Glacier Bancorp by 0.8% in the third quarter. California State Teachers Retirement System now owns 161,381 shares of the bank’s stock valued at $4,603,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 76.24% of the company’s stock.

Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) traded up 0.34% during mid-day trading on Friday, hitting $32.91. 578,676 shares of the stock traded hands. The company’s 50 day moving average is $33.70 and its 200 day moving average is $34.59. The firm has a market capitalization of $2.52 billion, a P/E ratio of 20.33 and a beta of 1.36. Glacier Bancorp, Inc. has a one year low of $24.58 and a one year high of $38.17.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, April 20th. The bank reported $0.41 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Glacier Bancorp had a return on equity of 10.81% and a net margin of 26.83%. The company had revenue of $105.95 million during the quarter, compared to analyst estimates of $112.10 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, equities analysts expect that Glacier Bancorp, Inc. will post $1.77 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 20th. Stockholders of record on Tuesday, April 11th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Friday, April 7th. Glacier Bancorp’s payout ratio is 50.31%.

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GBCI has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday, April 3rd. Piper Jaffray Companies decreased their target price on shares of Glacier Bancorp from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, April 17th.

In other news, Director Michael J. Blodnick sold 100,450 shares of the business’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $36.70, for a total transaction of $3,686,515.00. Following the completion of the transaction, the director now owns 101,224 shares of the company’s stock, valued at $3,714,920.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.09% of the stock is currently owned by insiders.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.

12 Month Chart for NASDAQ:GBCI

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