Prudential Financial Inc. reduced its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 131,012 shares of the bank’s stock after selling 2,300 shares during the period. Prudential Financial Inc. owned about 0.17% of Glacier Bancorp worth $4,797,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of GBCI. Great West Life Assurance Co. Can lifted its stake in shares of Glacier Bancorp by 6.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 106,027 shares of the bank’s stock worth $3,597,000 after acquiring an additional 6,342 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Glacier Bancorp by 29.1% during the 1st quarter. First Trust Advisors LP now owns 186,307 shares of the bank’s stock worth $6,321,000 after acquiring an additional 41,992 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Glacier Bancorp by 6.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,108,727 shares of the bank’s stock worth $37,619,000 after acquiring an additional 63,076 shares during the last quarter. Comerica Bank lifted its stake in shares of Glacier Bancorp by 4.0% during the 1st quarter. Comerica Bank now owns 86,078 shares of the bank’s stock worth $3,001,000 after acquiring an additional 3,311 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Glacier Bancorp by 1.4% during the 1st quarter. Swiss National Bank now owns 126,000 shares of the bank’s stock worth $4,275,000 after acquiring an additional 1,800 shares during the last quarter. 80.86% of the stock is owned by hedge funds and other institutional investors.
GBCI has been the subject of a number of research analyst reports. Zacks Investment Research raised Glacier Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Monday, June 26th. BidaskClub raised Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Keefe, Bruyette & Woods set a $36.00 price target on Glacier Bancorp and gave the stock a “hold” rating in a research note on Monday, August 28th. Finally, Piper Jaffray Companies set a $38.00 price target on Glacier Bancorp and gave the stock a “hold” rating in a research note on Saturday, July 29th.
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Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) opened at 33.97 on Tuesday. Glacier Bancorp, Inc. has a 52 week low of $27.31 and a 52 week high of $38.17. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 20.59 and a beta of 1.45. The company’s 50 day moving average price is $33.63 and its 200-day moving average price is $34.35.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). Glacier Bancorp had a net margin of 27.30% and a return on equity of 11.02%. The business had revenue of $113.91 million during the quarter, compared to analyst estimates of $115.60 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. Analysts anticipate that Glacier Bancorp, Inc. will post $1.78 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 21st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 20th. Glacier Bancorp’s dividend payout ratio is presently 50.91%.
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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