Northern Trust Corp Has $50.37 Million Stake in Glacier Bancorp, Inc. (GBCI)
Northern Trust Corp lifted its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,375,756 shares of the bank’s stock after purchasing an additional 96,330 shares during the quarter. Northern Trust Corp owned about 1.76% of Glacier Bancorp worth $50,366,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Glacier Bancorp by 2.3% during the second quarter. BlackRock Inc. now owns 9,857,811 shares of the bank’s stock worth $360,895,000 after purchasing an additional 217,840 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Glacier Bancorp by 5.7% during the first quarter. Vanguard Group Inc. now owns 7,055,773 shares of the bank’s stock worth $239,402,000 after purchasing an additional 381,855 shares during the last quarter. State Street Corp raised its stake in shares of Glacier Bancorp by 25.8% during the first quarter. State Street Corp now owns 3,003,305 shares of the bank’s stock worth $101,899,000 after purchasing an additional 615,216 shares during the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of Glacier Bancorp by 6.0% during the second quarter. Aberdeen Asset Management PLC UK now owns 2,192,431 shares of the bank’s stock worth $80,265,000 after purchasing an additional 124,446 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of Glacier Bancorp by 15.4% during the second quarter. Neuberger Berman Group LLC now owns 1,625,821 shares of the bank’s stock worth $59,521,000 after purchasing an additional 217,507 shares during the last quarter. Institutional investors and hedge funds own 80.86% of the company’s stock.
Glacier Bancorp, Inc. (NASDAQ:GBCI) opened at 37.62 on Friday. Glacier Bancorp, Inc. has a 52-week low of $27.31 and a 52-week high of $38.18. The stock has a market cap of $2.93 billion, a PE ratio of 22.80 and a beta of 1.49. The firm has a 50-day moving average price of $34.49 and a 200 day moving average price of $34.44.
Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). The business had revenue of $113.91 million for the quarter, compared to the consensus estimate of $115.60 million. Glacier Bancorp had a net margin of 27.30% and a return on equity of 11.02%. During the same period in the previous year, the firm earned $0.40 EPS. Equities analysts anticipate that Glacier Bancorp, Inc. will post $1.78 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 21st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, September 20th. Glacier Bancorp’s payout ratio is currently 50.91%.
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Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price target on shares of Glacier Bancorp in a research note on Friday, September 29th. Zacks Investment Research cut 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 price objective on Glacier Bancorp and gave the stock a “hold” rating in a research report on Saturday, July 29th. Finally, BidaskClub cut Glacier Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th.
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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