William Blair Investment Management LLC cut its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 759,815 shares of the bank’s stock after selling 3,101 shares during the period. William Blair Investment Management LLC owned approximately 0.99% of Glacier Bancorp worth $25,781,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in GBCI. State Street Corp raised its position in Glacier Bancorp by 10.1% in the fourth quarter. State Street Corp now owns 2,388,089 shares of the bank’s stock valued at $86,516,000 after buying an additional 219,864 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in Glacier Bancorp by 43.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,834,715 shares of the bank’s stock valued at $66,472,000 after buying an additional 556,818 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Glacier Bancorp during the fourth quarter valued at about $4,455,000. The Manufacturers Life Insurance Company purchased a new position in Glacier Bancorp during the third quarter valued at about $49,268,000. Finally, Mairs & Power INC purchased a new position in Glacier Bancorp during the third quarter valued at about $9,911,000. 80.50% of the stock is currently owned by institutional investors and hedge funds.
Glacier Bancorp, Inc. (NASDAQ GBCI) traded up 0.25% on Friday, hitting $36.51. The stock had a trading volume of 1,292,346 shares. Glacier Bancorp, Inc. has a 12-month low of $24.58 and a 12-month high of $38.17. The company’s 50 day moving average is $34.07 and its 200 day moving average is $34.95. The firm has a market cap of $2.80 billion, a PE ratio of 22.55 and a beta of 1.48.
Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, April 20th. The bank reported $0.41 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. The firm had revenue of $105.95 million for the quarter, compared to the consensus estimate of $112.10 million. Glacier Bancorp had a net margin of 27.12% and a return on equity of 10.94%. During the same period in the prior year, the business posted $0.38 earnings per share. On average, equities research analysts expect that Glacier Bancorp, Inc. will post $1.77 EPS for the current fiscal year.
Several research firms recently issued reports on GBCI. Zacks Investment Research lowered Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Piper Jaffray Companies reduced their price target on Glacier Bancorp from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, April 17th. Finally, BidaskClub raised Glacier Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday.
In other news, Director James M. English sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $36.65, for a total value of $91,625.00. Following the sale, the director now directly owns 20,181 shares of the company’s stock, valued at $739,633.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.65% of the company’s stock.
About Glacier Bancorp
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.
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