Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in Glacier Bancorp, Inc. (NASDAQ:GBCIGet Rating) by 14.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 423,474 shares of the bank’s stock after acquiring an additional 55,024 shares during the period. Principal Financial Group Inc.’s holdings in Glacier Bancorp were worth $20,081,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. California Public Employees Retirement System increased its position in Glacier Bancorp by 3.4% during the first quarter. California Public Employees Retirement System now owns 224,110 shares of the bank’s stock worth $11,268,000 after purchasing an additional 7,283 shares during the last quarter. Teacher Retirement System of Texas increased its position in Glacier Bancorp by 6.9% during the first quarter. Teacher Retirement System of Texas now owns 21,610 shares of the bank’s stock worth $1,087,000 after purchasing an additional 1,404 shares during the last quarter. Yousif Capital Management LLC increased its position in Glacier Bancorp by 3.6% during the second quarter. Yousif Capital Management LLC now owns 60,560 shares of the bank’s stock worth $2,872,000 after purchasing an additional 2,095 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Glacier Bancorp by 59.3% in the second quarter. Russell Investments Group Ltd. now owns 146,448 shares of the bank’s stock worth $6,942,000 after acquiring an additional 54,532 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new stake in shares of Glacier Bancorp in the first quarter worth $1,244,000. Institutional investors and hedge funds own 69.88% of the company’s stock.

Analysts Set New Price Targets

GBCI has been the subject of several analyst reports. Truist Financial upped their target price on shares of Glacier Bancorp from $61.00 to $68.00 in a research note on Monday, November 7th. Stephens upped their target price on shares of Glacier Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, October 27th. Finally, StockNews.com assumed coverage on shares of Glacier Bancorp in a research note on Wednesday, October 12th. They set a “sell” rating on the stock.

Glacier Bancorp Stock Up 0.1 %

GBCI stock opened at $57.35 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.33. Glacier Bancorp, Inc. has a fifty-two week low of $44.43 and a fifty-two week high of $60.69. The firm’s 50-day simple moving average is $53.35 and its 200 day simple moving average is $50.47. The stock has a market cap of $6.35 billion, a PE ratio of 23.13 and a beta of 0.82.

Glacier Bancorp (NASDAQ:GBCIGet Rating) last released its quarterly earnings data on Friday, October 21st. The bank reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Glacier Bancorp had a return on equity of 9.31% and a net margin of 29.68%. The firm had revenue of $235.73 million during the quarter, compared to analyst estimates of $238.18 million. During the same period last year, the business earned $0.79 EPS. The firm’s revenue was up 19.4% on a year-over-year basis. As a group, sell-side analysts predict that Glacier Bancorp, Inc. will post 2.77 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, December 6th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 5th. This represents a $1.32 annualized dividend and a yield of 2.30%. Glacier Bancorp’s payout ratio is 53.23%.

About Glacier Bancorp

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

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