Glacier Bancorp, Inc. $GBCI Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI) by 2,984.7% during the first quarter, Holdings Channel.com reports. The firm owned 39,978 shares of the company’s stock after acquiring an additional 38,682 shares during the period. Fifth Third Bancorp’s holdings in Glacier Bancorp were worth $1,786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GBCI. Norges Bank bought a new stake in Glacier Bancorp during the fourth quarter worth approximately $67,582,000. Vanguard Group Inc. increased its position in shares of Glacier Bancorp by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock valued at $588,471,000 after purchasing an additional 870,335 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Glacier Bancorp during the 1st quarter valued at $33,197,000. Balyasny Asset Management L.P. bought a new stake in shares of Glacier Bancorp in the 2nd quarter worth $24,362,000. Finally, State Street Corp raised its stake in shares of Glacier Bancorp by 9.9% in the 4th quarter. State Street Corp now owns 6,178,363 shares of the company’s stock worth $272,157,000 after buying an additional 557,873 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

GBCI opened at $51.20 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.06. The firm has a market cap of $6.66 billion, a PE ratio of 23.92 and a beta of 0.72. The business has a fifty day simple moving average of $49.52 and a 200-day simple moving average of $48.27. Glacier Bancorp, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $54.58.

Glacier Bancorp (NYSE:GBCI) last announced its earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.The company had revenue of $309.61 million for the quarter. During the same period last year, the firm earned $0.48 earnings per share. As a group, equities analysts predict that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.6%. Glacier Bancorp’s dividend payout ratio (DPR) is currently 61.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Glacier Bancorp in a research note on Monday. Stephens boosted their price target on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Piper Sandler upped their price target on shares of Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, DA Davidson raised their price objective on shares of Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Glacier Bancorp presently has a consensus rating of “Hold” and a consensus target price of $55.17.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.