Coldstream Capital Management Inc. Buys 370 Shares of Glacier Bancorp, Inc. (GBCI)
Coldstream Capital Management Inc. increased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,500 shares of the bank’s stock after purchasing an additional 370 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Glacier Bancorp were worth $1,409,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. LS Investment Advisors LLC grew its position in shares of Glacier Bancorp by 4.9% in the second quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock valued at $105,000 after purchasing an additional 134 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Glacier Bancorp by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock valued at $116,000 after purchasing an additional 283 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Glacier Bancorp by 34.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock valued at $135,000 after purchasing an additional 947 shares in the last quarter. Advisor Group Inc. grew its position in shares of Glacier Bancorp by 23.7% in the second quarter. Advisor Group Inc. now owns 3,884 shares of the bank’s stock valued at $142,000 after purchasing an additional 744 shares in the last quarter. Finally, Fiduciary Trust Co. purchased a new position in shares of Glacier Bancorp in the second quarter valued at $183,000. Institutional investors own 80.86% of the company’s stock.
GBCI has been the subject of several recent research reports. BidaskClub upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Piper Jaffray Companies set a $38.00 price target on Glacier Bancorp and gave the company a “hold” rating in a research report on Saturday, July 29th. Zacks Investment Research cut Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods set a $36.00 price target on Glacier Bancorp and gave the company a “hold” rating in a research report on Monday, June 26th.
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Glacier Bancorp, Inc. (NASDAQ:GBCI) traded down 0.16% during trading on Monday, reaching $37.56. The company had a trading volume of 39,205 shares. The firm has a market capitalization of $2.93 billion, a P/E ratio of 22.76 and a beta of 1.48. The firm’s 50-day moving average price is $34.49 and its 200 day moving average price is $34.44. Glacier Bancorp, Inc. has a one year low of $27.31 and a one year high of $38.18.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to analysts’ expectations of $115.60 million. During the same quarter in the previous year, the company posted $0.40 EPS. Equities analysts forecast that Glacier Bancorp, Inc. will post $1.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 21st were paid a $0.21 dividend. The ex-dividend date was Wednesday, September 20th. This represents a $0.84 dividend on an annualized basis and a yield of 2.23%. Glacier Bancorp’s payout ratio is presently 50.91%.
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.
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