California Public Employees Retirement System cut its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 11.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 172,169 shares of the bank’s stock after selling 21,888 shares during the period. California Public Employees Retirement System owned 0.20% of Glacier Bancorp worth $6,659,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of GBCI. Marshall & Sullivan Inc. WA acquired a new position in Glacier Bancorp in the 2nd quarter valued at $118,000. PNC Financial Services Group Inc. raised its holdings in Glacier Bancorp by 32.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,894 shares of the bank’s stock valued at $190,000 after acquiring an additional 1,200 shares during the last quarter. Creative Planning acquired a new position in Glacier Bancorp in the 2nd quarter valued at $210,000. WINTON GROUP Ltd acquired a new position in Glacier Bancorp in the 1st quarter valued at $270,000. Finally, Strs Ohio increased its holdings in shares of Glacier Bancorp by 26.1% during the 2nd quarter. Strs Ohio now owns 8,700 shares of the bank’s stock worth $336,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 81.48% of the company’s stock.
A number of research firms have recently commented on GBCI. ValuEngine upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Finally, BidaskClub downgraded Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 14th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $43.50.
Shares of NASDAQ GBCI opened at $41.47 on Friday. Glacier Bancorp, Inc. has a 12-month low of $35.50 and a 12-month high of $46.28. The firm has a market capitalization of $3.64 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.96 and a beta of 1.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.84.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, July 19th. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Glacier Bancorp had a net margin of 25.31% and a return on equity of 11.56%. The company had revenue of $140.38 million during the quarter, compared to analyst estimates of $135.74 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. On average, analysts forecast that Glacier Bancorp, Inc. will post 2.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Tuesday, October 9th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, October 5th. This represents a $1.04 annualized dividend and a yield of 2.51%. Glacier Bancorp’s dividend payout ratio is currently 59.43%.
Glacier Bancorp Company Profile
Glacier Bancorp, Inc operates as the 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 deposit products, including non-interest bearing deposits, interest bearing negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.
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