Sterling Capital Management LLC Sells 33,070 Shares of Glacier Bancorp, Inc. (GBCI)
Sterling Capital Management LLC cut its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 495,530 shares of the bank’s stock after selling 33,070 shares during the quarter. Sterling Capital Management LLC owned about 0.64% of Glacier Bancorp worth $18,141,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of GBCI. BlackRock Inc. increased its stake in Glacier Bancorp by 50,940.2% in the first quarter. BlackRock Inc. now owns 9,639,971 shares of the bank’s stock valued at $327,084,000 after purchasing an additional 9,621,084 shares during the period. Franklin Resources Inc. increased its stake in Glacier Bancorp by 2,008.0% in the second quarter. Franklin Resources Inc. now owns 1,355,443 shares of the bank’s stock valued at $49,623,000 after purchasing an additional 1,291,143 shares during the period. State Street Corp increased its stake in Glacier Bancorp by 25.8% in the first quarter. State Street Corp now owns 3,003,305 shares of the bank’s stock valued at $101,899,000 after purchasing an additional 615,216 shares during the period. Denver Investment Advisors LLC acquired a new position in Glacier Bancorp in the second quarter valued at $18,631,000. Finally, Vanguard Group Inc. increased its stake in Glacier Bancorp by 5.7% in the first quarter. Vanguard Group Inc. now owns 7,055,773 shares of the bank’s stock valued at $239,402,000 after purchasing an additional 381,855 shares during the period. Institutional investors own 80.86% of the company’s stock.
GBCI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods set a $36.00 price objective on shares of Glacier Bancorp and gave the company a “hold” rating in a research note on Monday, June 26th. BidaskClub upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Piper Jaffray Companies restated a “hold” rating and issued a $37.00 price objective on shares of Glacier Bancorp in a research note on Wednesday, July 12th. Finally, Zacks Investment Research lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th.
Glacier Bancorp, Inc. (NASDAQ:GBCI) traded down 0.35% on Friday, reaching $37.16. 129,223 shares of the company’s stock were exchanged. Glacier Bancorp, Inc. has a 1-year low of $27.31 and a 1-year high of $38.18. The stock’s 50 day moving average price is $35.00 and its 200 day moving average price is $34.58. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 22.52 and a beta of 1.49.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 earnings per share 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 firm had revenue of $113.91 million during the quarter, compared to analyst estimates of $115.60 million. During the same period last year, the business earned $0.40 EPS. On average, analysts expect that Glacier Bancorp, Inc. will post $1.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 21st were issued a $0.21 dividend. The ex-dividend date was Wednesday, September 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.25%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 50.91%.
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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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