Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Bought by Cooke & Bieler LP

Cooke & Bieler LP grew its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 34.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,239,276 shares of the bank’s stock after acquiring an additional 821,199 shares during the quarter. Cooke & Bieler LP owned about 2.92% of Glacier Bancorp worth $133,847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Glacier Bancorp by 2.9% during the first quarter. BlackRock Inc. now owns 13,765,767 shares of the bank’s stock worth $578,300,000 after acquiring an additional 388,578 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Glacier Bancorp by 0.5% in the third quarter. Vanguard Group Inc. now owns 12,269,992 shares of the bank’s stock valued at $349,695,000 after buying an additional 67,091 shares in the last quarter. State Street Corp grew its stake in shares of Glacier Bancorp by 12.1% in the second quarter. State Street Corp now owns 5,281,795 shares of the bank’s stock valued at $164,634,000 after buying an additional 568,105 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Glacier Bancorp by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,323,749 shares of the bank’s stock valued at $97,622,000 after buying an additional 100,095 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Glacier Bancorp by 3.0% in the first quarter. Geode Capital Management LLC now owns 2,231,239 shares of the bank’s stock valued at $93,734,000 after buying an additional 65,836 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Trading Up 5.2 %

Shares of GBCI opened at $36.94 on Friday. The company has a market capitalization of $4.19 billion, a P/E ratio of 21.11 and a beta of 0.80. Glacier Bancorp, Inc. has a one year low of $26.77 and a one year high of $44.06. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day moving average price of $37.80 and a 200 day moving average price of $36.65.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Friday, April 19th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.61%. The business had revenue of $196.47 million during the quarter, compared to analysts’ expectations of $202.66 million. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. Sell-side analysts forecast that Glacier Bancorp, Inc. will post 1.82 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s dividend payout ratio (DPR) is currently 75.43%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GBCI. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. Raymond James increased their target price on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Stephens reiterated an “equal weight” rating and issued a $44.00 target price on shares of Glacier Bancorp in a research note on Friday. Finally, Truist Financial reduced their price target on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating for the company in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Glacier Bancorp currently has a consensus rating of “Hold” and a consensus target price of $40.40.

Glacier Bancorp Profile

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. The company offers retail banking, business banking, and mortgage origination and loan servicing services.