Van ECK Associates Corp lifted its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI – Get Rating) by 9.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,023 shares of the bank’s stock after purchasing an additional 272 shares during the quarter. Van ECK Associates Corp’s holdings in Glacier Bancorp were worth $149,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of GBCI. State Street Corp boosted its position in shares of Glacier Bancorp by 7.8% in the 1st quarter. State Street Corp now owns 4,807,832 shares of the bank’s stock valued at $241,738,000 after purchasing an additional 346,492 shares during the period. ProShare Advisors LLC boosted its position in Glacier Bancorp by 433.4% during the 2nd quarter. ProShare Advisors LLC now owns 203,884 shares of the bank’s stock worth $9,670,000 after acquiring an additional 165,660 shares during the period. Eaton Vance Management boosted its position in Glacier Bancorp by 19.3% during the 1st quarter. Eaton Vance Management now owns 896,974 shares of the bank’s stock worth $45,100,000 after acquiring an additional 145,421 shares during the period. Vanguard Group Inc. boosted its position in Glacier Bancorp by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,944,370 shares of the bank’s stock worth $550,283,000 after acquiring an additional 96,588 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Glacier Bancorp by 14.9% during the 2nd quarter. Principal Financial Group Inc. now owns 423,474 shares of the bank’s stock worth $20,081,000 after acquiring an additional 55,024 shares during the period. Institutional investors and hedge funds own 70.54% of the company’s stock.
Wall Street Analyst Weigh In
GBCI has been the subject of a number of research reports. Stephens raised their price objective on Glacier Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 27th. Truist Financial decreased their price objective on Glacier Bancorp from $68.00 to $62.00 in a research report on Friday, December 9th. Finally, StockNews.com lowered Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th.
Glacier Bancorp Stock Down 1.9 %
Glacier Bancorp (NASDAQ:GBCI – Get Rating) last announced its quarterly earnings results on Thursday, October 20th. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The firm had revenue of $235.73 million for the quarter, compared to analyst estimates of $238.18 million. Glacier Bancorp had a net margin of 29.68% and a return on equity of 9.31%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 earnings per share. On average, equities research analysts expect that Glacier Bancorp, Inc. will post 2.74 earnings per share for the current fiscal year.
Glacier Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Tuesday, December 6th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, December 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.90%. Glacier Bancorp’s dividend payout ratio is 53.23%.
About Glacier Bancorp
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.
- Get a free copy of the StockNews.com research report on Glacier Bancorp (GBCI)
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