Vanguard Group Inc. Raises Stock Holdings in Glacier Bancorp, Inc. $GBCI

Vanguard Group Inc. lifted its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,488,822 shares of the bank’s stock after purchasing an additional 419,849 shares during the quarter. Vanguard Group Inc. owned 0.10% of Glacier Bancorp worth $607,831,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GBCI. AQR Capital Management LLC boosted its holdings in Glacier Bancorp by 30.9% in the first quarter. AQR Capital Management LLC now owns 31,176 shares of the bank’s stock valued at $1,358,000 after acquiring an additional 7,359 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Glacier Bancorp by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock valued at $59,799,000 after buying an additional 73,756 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Glacier Bancorp by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the bank’s stock valued at $15,587,000 after acquiring an additional 26,157 shares during the last quarter. AlphaQuest LLC raised its stake in Glacier Bancorp by 9.5% during the 2nd quarter. AlphaQuest LLC now owns 3,001 shares of the bank’s stock valued at $129,000 after buying an additional 260 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Glacier Bancorp by 12.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 45,770 shares of the bank’s stock valued at $1,972,000 after acquiring an additional 4,906 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Up 0.1%

GBCI stock opened at $47.74 on Wednesday. The stock has a market capitalization of $6.20 billion, a PE ratio of 28.59 and a beta of 0.76. Glacier Bancorp, Inc. has a 52 week low of $36.76 and a 52 week high of $53.99. 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 firm has a 50 day moving average of $48.30 and a 200 day moving average of $46.43.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data 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 return on equity of 5.98% and a net margin of 14.99%.During the same quarter last year, the company earned $0.54 EPS. Sell-side analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stephens set a $58.00 price target on Glacier Bancorp in a report on Monday, January 26th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating on shares of Glacier Bancorp in a research note on Monday, January 26th. Janney Montgomery Scott started coverage on Glacier Bancorp in a research report on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 price target for the company. DA Davidson lifted their price target on shares of Glacier Bancorp from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Piper Sandler set a $59.00 price objective on Glacier Bancorp and gave the company an “overweight” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Glacier Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $55.67.

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.