American Research & Management Co. Reduces Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)
American Research & Management Co. reduced its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,439 shares of the bank’s stock after selling 5,660 shares during the period. Glacier Bancorp comprises 2.5% of American Research & Management Co.’s holdings, making the stock its 12th biggest position. American Research & Management Co.’s holdings in Glacier Bancorp were worth $10,414,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in GBCI. BlackRock Inc. boosted its holdings in Glacier Bancorp by 4.6% during the fourth quarter. BlackRock Inc. now owns 11,530,081 shares of the bank’s stock worth $530,499,000 after buying an additional 511,842 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Glacier Bancorp by 0.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,930,877 shares of the bank’s stock worth $88,840,000 after buying an additional 6,341 shares in the last quarter. Norges Bank purchased a new stake in Glacier Bancorp during the fourth quarter worth $53,453,000. Eaton Vance Management boosted its holdings in Glacier Bancorp by 41.6% during the fourth quarter. Eaton Vance Management now owns 1,000,306 shares of the bank’s stock worth $46,024,000 after buying an additional 293,689 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Glacier Bancorp by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 830,142 shares of the bank’s stock worth $38,195,000 after buying an additional 8,689 shares in the last quarter. 68.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ GBCI traded down $0.81 during mid-day trading on Thursday, reaching $56.97. The company’s stock had a trading volume of 3,134 shares, compared to its average volume of 396,912. The stock has a 50-day moving average of $58.38 and a two-hundred day moving average of $46.49. The stock has a market capitalization of $5.44 billion, a P/E ratio of 22.66 and a beta of 1.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.81 and a current ratio of 0.82. Glacier Bancorp, Inc. has a 1-year low of $30.05 and a 1-year high of $67.35.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 22nd. Investors of record on Tuesday, April 13th will be issued a $0.31 dividend. The ex-dividend date is Monday, April 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.30. Glacier Bancorp’s dividend payout ratio is currently 50.42%.
A number of equities analysts have weighed in on GBCI shares. Stephens started coverage on shares of Glacier Bancorp in a research report on Friday, February 19th. They set an “equal weight” rating for the company. Zacks Investment Research upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $47.33.
Glacier Bancorp Profile
Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.
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