Glacier Bancorp, Inc. $GBCI Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 108.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 146,777 shares of the bank’s stock after buying an additional 76,198 shares during the period. New York State Common Retirement Fund’s holdings in Glacier Bancorp were worth $7,144,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Glacier Bancorp in the second quarter valued at about $54,144,000. Balyasny Asset Management L.P. acquired a new position in shares of Glacier Bancorp in the 2nd quarter valued at approximately $24,362,000. Voya Investment Management LLC boosted its stake in shares of Glacier Bancorp by 1,653.0% during the 3rd quarter. Voya Investment Management LLC now owns 540,871 shares of the bank’s stock valued at $26,324,000 after buying an additional 510,017 shares during the last quarter. Lido Advisors LLC purchased a new position in shares of Glacier Bancorp during the 2nd quarter valued at approximately $17,651,000. Finally, Deprince Race & Zollo Inc. grew its position in shares of Glacier Bancorp by 41.5% during the third quarter. Deprince Race & Zollo Inc. now owns 1,272,041 shares of the bank’s stock worth $61,910,000 after buying an additional 373,196 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GBCI has been the topic of several recent analyst reports. Stephens set a $58.00 price target on shares of Glacier Bancorp in a report on Monday, January 26th. Raymond James Financial cut their target price on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Keefe, Bruyette & Woods reiterated an “underperform” rating on shares of Glacier Bancorp in a research note on Monday, January 26th. DA Davidson boosted their price objective on Glacier Bancorp from $55.00 to $58.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Piper Sandler upgraded Glacier Bancorp from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $50.00 to $58.00 in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

Glacier Bancorp Price Performance

GBCI opened at $53.21 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $46.14 and its 200 day moving average price is $45.81. Glacier Bancorp, Inc. has a fifty-two week low of $36.76 and a fifty-two week high of $53.61. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 31.86 and a beta of 0.75.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, January 22nd. The bank reported $0.49 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.13). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the prior year, the business earned $0.54 EPS. As a group, sell-side analysts expect that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, December 9th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.5%. Glacier Bancorp’s payout ratio is 66.33%.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.