Northern Trust Corp decreased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 11.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,284,400 shares of the bank’s stock after selling 158,068 shares during the quarter. Northern Trust Corp owned 1.52% of Glacier Bancorp worth $49,681,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. Marshall & Sullivan Inc. WA acquired a new stake in Glacier Bancorp during the 2nd quarter worth about $118,000. PNC Financial Services Group Inc. boosted its position in Glacier Bancorp by 32.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,894 shares of the bank’s stock worth $190,000 after acquiring an additional 1,200 shares during the period. Creative Planning acquired a new stake in Glacier Bancorp during the 2nd quarter worth about $210,000. WINTON GROUP Ltd acquired a new stake in Glacier Bancorp during the 1st quarter worth about $270,000. Finally, Strs Ohio boosted its position in 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 acquiring an additional 1,800 shares during the period. Institutional investors and hedge funds own 81.48% of the company’s stock.
GBCI opened at $41.47 on Friday. Glacier Bancorp, Inc. has a fifty-two week low of $35.50 and a fifty-two week high of $46.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market cap of $3.64 billion, a PE ratio of 23.70, a PEG ratio of 1.96 and a beta of 1.44.
Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, July 19th. The bank reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). Glacier Bancorp had a return on equity of 11.56% and a net margin of 25.31%. The firm had revenue of $140.38 million for the quarter, compared to analysts’ expectations of $135.74 million. During the same period last year, the business earned $0.43 earnings per share. On average, research analysts forecast that Glacier Bancorp, Inc. will post 2.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 18th. Stockholders of record on Tuesday, October 9th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Friday, October 5th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 59.43%.
A number of equities research analysts have commented on the company. ValuEngine upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Finally, BidaskClub lowered Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 14th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $43.50.
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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