Peregrine Capital Management LLC Has $11.01 Million Stake in Glacier Bancorp, Inc. $GBCI

Peregrine Capital Management LLC reduced its stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,358 shares of the company’s stock after selling 10,639 shares during the period. Peregrine Capital Management LLC’s holdings in Glacier Bancorp were worth $11,005,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GBCI. Eurizon Capital SGR S.p.A. bought a new stake in shares of Glacier Bancorp during the 4th quarter worth about $31,000. EverSource Wealth Advisors LLC raised its stake in shares of Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock valued at $31,000 after acquiring an additional 490 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of Glacier Bancorp by 41.2% in the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock valued at $34,000 after acquiring an additional 223 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Glacier Bancorp in the 4th quarter worth approximately $35,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Glacier Bancorp in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Stephens increased their price target on Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Piper Sandler boosted their price objective on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. Finally, DA Davidson raised their target price on shares of Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Glacier Bancorp currently has an average rating of “Hold” and an average target price of $55.17.

Glacier Bancorp Price Performance

NYSE GBCI opened at $51.61 on Wednesday. Glacier Bancorp, Inc. has a twelve month low of $39.90 and a twelve month high of $53.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $6.72 billion, a PE ratio of 24.12 and a beta of 0.74. The stock has a 50-day simple moving average of $48.39 and a 200 day simple moving average of $47.46.

Glacier Bancorp (NYSE:GBCI) last announced its earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. The firm had revenue of $309.61 million during the quarter. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.During the same quarter in the previous year, the company earned $0.48 EPS. Research analysts anticipate that Glacier Bancorp, Inc. will post 3.16 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio is currently 61.68%.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.