Glacier Bancorp Inc. (GBCI) Short Interest Down 30.9% in October
Glacier Bancorp Inc. (NASDAQ:GBCI) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,590,838 shares, a decrease of 30.9% from the October 14th total of 3,748,575 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily volume of 236,885 shares, the short-interest ratio is presently 10.9 days.
Hedge funds have recently added to or reduced their stakes in the company. Aberdeen Asset Management PLC UK boosted its stake in Glacier Bancorp by 213.0% in the second quarter. Aberdeen Asset Management PLC UK now owns 992,736 shares of the company’s stock worth $26,387,000 after buying an additional 675,519 shares during the period. BlackRock Fund Advisors boosted its stake in Glacier Bancorp by 8.4% in the third quarter. BlackRock Fund Advisors now owns 5,393,371 shares of the company’s stock worth $153,819,000 after buying an additional 415,745 shares during the period. BlackRock Group LTD boosted its stake in Glacier Bancorp by 237.5% in the third quarter. BlackRock Group LTD now owns 506,458 shares of the company’s stock worth $14,445,000 after buying an additional 356,377 shares during the period. Vanguard Group Inc. boosted its stake in Glacier Bancorp by 5.9% in the second quarter. Vanguard Group Inc. now owns 6,080,436 shares of the company’s stock worth $161,618,000 after buying an additional 340,564 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Glacier Bancorp by 51.8% in the first quarter. Renaissance Technologies LLC now owns 942,460 shares of the company’s stock worth $23,957,000 after buying an additional 321,460 shares during the period. Institutional investors own 75.62% of the company’s stock.
Shares of Glacier Bancorp (NASDAQ:GBCI) opened at 32.13 on Friday. The firm’s 50-day moving average is $28.44 and its 200-day moving average is $27.59. The stock has a market capitalization of $2.46 billion, a PE ratio of 20.46 and a beta of 1.34. Glacier Bancorp has a one year low of $21.90 and a one year high of $32.18.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, October 20th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by $0.02. Glacier Bancorp had a return on equity of 10.77% and a net margin of 26.97%. On average, analysts expect that Glacier Bancorp will post $1.60 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 20th. Stockholders of record on Tuesday, October 11th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Thursday, October 6th. Glacier Bancorp’s payout ratio is currently 50.96%.
A number of research analysts recently weighed in on GBCI shares. Zacks Investment Research downgraded shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 15th. FIG Partners downgraded shares of Glacier Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Glacier Bancorp presently has an average rating of “Hold” and an average price target of $27.25.
About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. It provides banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington through its bank subsidiary, Glacier Bank (the Bank). The Company offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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