Bank of New York Mellon Corp Lowers Position in Glacier Bancorp, Inc. (GBCI)
Bank of New York Mellon Corp cut its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,080,930 shares of the bank’s stock after selling 27,797 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.39% of Glacier Bancorp worth $39,573,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC lifted its stake in Glacier Bancorp by 4.9% in the second quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock worth $105,000 after acquiring an additional 134 shares during the period. Woodstock Corp purchased a new stake in Glacier Bancorp in the second quarter worth about $211,000. Koch Industries Inc. purchased a new stake in Glacier Bancorp in the first quarter worth about $218,000. Teacher Retirement System of Texas lifted its stake in Glacier Bancorp by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 6,141 shares of the bank’s stock worth $225,000 after acquiring an additional 93 shares during the period. Finally, Stratos Wealth Partners LTD. purchased a new stake in Glacier Bancorp in the first quarter worth about $239,000. 81.08% of the stock is owned by institutional investors.
Glacier Bancorp, Inc. (GBCI) opened at 32.32 on Thursday. Glacier Bancorp, Inc. has a one year low of $27.31 and a one year high of $38.17. The firm has a 50-day moving average of $34.13 and a 200-day moving average of $34.59. The company has a market capitalization of $2.52 billion, a P/E ratio of 19.59 and a beta of 1.45.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.01. The company had revenue of $113.91 million during the quarter, compared to analysts’ expectations of $115.60 million. Glacier Bancorp had a net margin of 27.30% and a return on equity of 11.02%. During the same quarter in the previous year, the business posted $0.40 EPS. On average, analysts anticipate that Glacier Bancorp, Inc. will post $1.78 earnings per share for the current year.
In other news, Director James M. English sold 2,500 shares of Glacier Bancorp stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $36.65, for a total value of $91,625.00. Following the completion of the transaction, the director now owns 20,181 shares in the company, valued at approximately $739,633.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.65% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/09/07/bank-of-new-york-mellon-corp-lowers-position-in-glacier-bancorp-inc-gbci.html.
A number of research firms recently weighed in on GBCI. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Glacier Bancorp in a research note on Wednesday, July 12th. BidaskClub raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Keefe, Bruyette & Woods set a $36.00 price objective on shares of Glacier Bancorp and gave the stock a “hold” rating in a research note on Monday, August 28th. Finally, Zacks Investment Research raised shares of Glacier Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Monday, June 26th.
Glacier Bancorp 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.
Receive News & Stock Ratings for Glacier Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glacier Bancorp Inc. and related stocks with our FREE daily email newsletter.