Prudential Financial Inc. raised its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 7.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,439 shares of the bank’s stock after buying an additional 10,563 shares during the period. Prudential Financial Inc. owned about 0.19% of Glacier Bancorp worth $6,913,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in shares of Glacier Bancorp by 6.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 27,527 shares of the bank’s stock valued at $1,186,000 after buying an additional 1,555 shares during the period. Legal & General Group Plc boosted its stake in shares of Glacier Bancorp by 6.1% during the 2nd quarter. Legal & General Group Plc now owns 174,000 shares of the bank’s stock valued at $6,765,000 after buying an additional 10,052 shares during the period. MetLife Investment Advisors LLC boosted its stake in shares of Glacier Bancorp by 7.9% during the 2nd quarter. MetLife Investment Advisors LLC now owns 38,814 shares of the bank’s stock valued at $1,501,000 after buying an additional 2,828 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Glacier Bancorp by 32.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,894 shares of the bank’s stock valued at $190,000 after buying an additional 1,200 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in shares of Glacier Bancorp during the 3rd quarter valued at $295,000. 82.56% of the stock is owned by institutional investors.
GBCI stock opened at $44.52 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.84 and a quick ratio of 0.83. Glacier Bancorp, Inc. has a 1 year low of $35.77 and a 1 year high of $47.67. The firm has a market capitalization of $3.78 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 2.04 and a beta of 1.25.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, October 18th. The bank reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.02). Glacier Bancorp had a net margin of 26.36% and a return on equity of 11.96%. The business had revenue of $146.16 million during the quarter, compared to analyst estimates of $144.01 million. Equities analysts forecast that Glacier Bancorp, Inc. will post 2.19 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Tuesday, December 11th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Monday, December 10th. Glacier Bancorp’s payout ratio is presently 59.43%.
A number of equities research analysts have issued reports on the stock. BidaskClub lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. ValuEngine raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, Zacks Investment Research lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $42.83.
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About Glacier Bancorp
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.
Further Reading: The Role of a Fiduciary and Individual Investors
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