Jennison Associates LLC Decreases Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)


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Jennison Associates LLC decreased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 24.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,378 shares of the bank’s stock after selling 7,100 shares during the period. Jennison Associates LLC’s holdings in Glacier Bancorp were worth $1,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GBCI. CI Investments Inc. purchased a new stake in shares of Glacier Bancorp in the third quarter worth about $26,000. Graves Light Private Wealth Management Inc. purchased a new stake in shares of Glacier Bancorp in the fourth quarter worth about $48,000. KBC Group NV purchased a new stake in shares of Glacier Bancorp in the third quarter worth about $79,000. Soundmark Wealth Management LLC purchased a new stake in shares of Glacier Bancorp in the fourth quarter worth about $207,000. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of Glacier Bancorp by 3.6% in the third quarter. Mercer Global Advisors Inc. ADV now owns 6,809 shares of the bank’s stock worth $218,000 after buying an additional 236 shares during the period. 68.09% of the stock is owned by institutional investors.

Shares of Glacier Bancorp stock opened at $53.58 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $49.84 and its 200-day simple moving average is $41.26. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 21.01 and a beta of 1.04. Glacier Bancorp, Inc. has a twelve month low of $26.66 and a twelve month high of $53.73.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Wednesday, January 27th. The bank reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.11. Glacier Bancorp had a return on equity of 11.31% and a net margin of 31.94%. Sell-side analysts predict that Glacier Bancorp, Inc. will post 2.69 earnings per share for the current year.

A number of brokerages recently commented on GBCI. Zacks Investment Research downgraded Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 23rd. Stephens started coverage on Glacier Bancorp in a research note on Friday. They set an “equal weight” rating on the stock. Finally, TheStreet upgraded Glacier Bancorp from a “c+” rating to a “b-” rating in a research note on Friday, October 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $38.50.

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 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 deposits, negotiated-rate jumbo certificates, and individual retirement accounts.

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Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

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