Ameriprise Financial Inc. Has $18.23 Million Holdings in Glacier Bancorp, Inc. (GBCI)
Ameriprise Financial Inc. grew its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 24.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 498,082 shares of the bank’s stock after acquiring an additional 96,550 shares during the period. Ameriprise Financial Inc. owned 0.64% of Glacier Bancorp worth $18,234,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its stake in shares of Glacier Bancorp by 2.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 395,892 shares of the bank’s stock worth $14,494,000 after purchasing an additional 9,858 shares during the last quarter. Dearborn Partners LLC raised its holdings in shares of Glacier Bancorp by 17.0% during the 2nd quarter. Dearborn Partners LLC now owns 494,531 shares of the bank’s stock valued at $18,105,000 after purchasing an additional 72,019 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Glacier Bancorp during the 1st quarter valued at $569,000. Oxford Asset Management bought a new position in shares of Glacier Bancorp during the 1st quarter valued at $510,000. Finally, FMR LLC raised its holdings in shares of Glacier Bancorp by 51.5% during the 1st quarter. FMR LLC now owns 218,800 shares of the bank’s stock valued at $7,424,000 after purchasing an additional 74,400 shares in the last quarter. 80.86% of the stock is owned by institutional investors.
GBCI has been the subject of several analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 price objective on shares of Glacier Bancorp in a research note on Friday. Zacks Investment Research downgraded shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Piper Jaffray Companies set a $38.00 target price on Glacier Bancorp and gave the company a “hold” rating in a report on Saturday, July 29th. Finally, BidaskClub lowered Glacier Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th.
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Shares of Glacier Bancorp, Inc. (GBCI) opened at 37.88 on Tuesday. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 22.96 and a beta of 1.48. Glacier Bancorp, Inc. has a 12-month low of $27.31 and a 12-month high of $38.18. The company has a 50-day moving average price of $34.07 and a 200 day moving average price of $34.36.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). Glacier Bancorp had a return on equity of 11.02% and a net margin of 27.30%. The business had revenue of $113.91 million for the quarter, compared to the consensus estimate of $115.60 million. During the same period last year, the firm earned $0.40 earnings per share. Equities research analysts expect that Glacier Bancorp, Inc. will post $1.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 21st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Wednesday, September 20th. Glacier Bancorp’s payout ratio is 50.91%.
About Glacier Bancorp
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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