First Interstate Bank Holds Stake in Glacier Bancorp, Inc. (GBCI)
First Interstate Bank continued to hold its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,716 shares of the bank’s stock at the end of the first quarter. First Interstate Bank’s holdings in Glacier Bancorp were worth $262,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. First Midwest Bank Trust Division raised its stake in Glacier Bancorp by 9.1% in the first quarter. First Midwest Bank Trust Division now owns 13,773 shares of the bank’s stock worth $467,000 after buying an additional 1,146 shares during the period. Guggenheim Capital LLC raised its stake in Glacier Bancorp by 29.5% in the fourth quarter. Guggenheim Capital LLC now owns 80,925 shares of the bank’s stock worth $2,931,000 after buying an additional 18,445 shares during the period. TRUE Private Wealth Advisors purchased a new stake in Glacier Bancorp during the third quarter worth $396,000. Aberdeen Asset Management PLC UK raised its stake in Glacier Bancorp by 43.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,834,715 shares of the bank’s stock worth $66,472,000 after buying an additional 556,818 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Glacier Bancorp during the fourth quarter worth $4,455,000. Hedge funds and other institutional investors own 80.50% of the company’s stock.
Shares of Glacier Bancorp, Inc. (GBCI) traded up 0.25% during midday trading on Friday, reaching $36.51. 1,292,346 shares of the company’s stock traded hands. Glacier Bancorp, Inc. has a 1-year low of $24.58 and a 1-year high of $38.17. The stock has a market capitalization of $2.80 billion, a P/E ratio of 22.55 and a beta of 1.48. The firm’s 50-day moving average price is $34.07 and its 200 day moving average price is $34.95.
Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, April 20th. The bank reported $0.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Glacier Bancorp had a net margin of 27.12% and a return on equity of 10.94%. The business had revenue of $105.95 million for the quarter, compared to analysts’ expectations of $112.10 million. During the same period last year, the company earned $0.38 earnings per share. On average, equities analysts predict that Glacier Bancorp, Inc. will post $1.77 earnings per share for the current fiscal year.
A number of equities analysts have commented on GBCI shares. Zacks Investment Research upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Monday, April 3rd. Piper Jaffray Companies dropped their target price on shares of Glacier Bancorp from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, April 17th. Finally, BidaskClub upgraded shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday.
In related news, Director James M. English sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $36.65, for a total value of $91,625.00. Following the sale, the director now directly owns 20,181 shares of the company’s stock, valued at $739,633.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.
Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It 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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