Bank of New York Mellon Corp Takes Position in Glacier Bancorp, Inc. $GBCI

Bank of New York Mellon Corp bought a new stake in Glacier Bancorp, Inc. (NYSE:GBCI) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 1,081,322 shares of the company’s stock, valued at approximately $55,775,000.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Glacier Bancorp by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company’s stock valued at $146,736,000 after purchasing an additional 237,316 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Glacier Bancorp by 881.8% during the 4th quarter. Hsbc Holdings PLC now owns 43,453 shares of the company’s stock worth $1,919,000 after acquiring an additional 39,027 shares during the period. Fifth Third Bancorp boosted its position in shares of Glacier Bancorp by 2,984.7% during the 1st quarter. Fifth Third Bancorp now owns 39,978 shares of the company’s stock valued at $1,786,000 after acquiring an additional 38,682 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Glacier Bancorp by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock valued at $588,471,000 after acquiring an additional 870,335 shares in the last quarter. Finally, KBC Group NV increased its stake in Glacier Bancorp by 1,740.2% in the first quarter. KBC Group NV now owns 67,369 shares of the company’s stock valued at $3,009,000 after acquiring an additional 63,708 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GBCI has been the subject of several recent research reports. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. DA Davidson reiterated a “buy” rating and issued a $58.00 price objective on shares of Glacier Bancorp in a research note on Monday, July 27th. Finally, Stephens increased their target price on Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.17.

Glacier Bancorp Stock Down 0.2%

GBCI opened at $47.26 on Thursday. The firm’s 50-day simple moving average is $50.20 and its 200-day simple moving average is $48.35. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84. Glacier Bancorp, Inc. has a twelve month low of $39.90 and a twelve month high of $54.58. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 19.37 and a beta of 0.74.

Glacier Bancorp (NYSE:GBCI) last announced its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. The business had revenue of $320.94 million during the quarter. During the same quarter last year, the business earned $0.57 EPS. Equities research analysts anticipate that Glacier Bancorp, Inc. will post 3.11 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 54.10%.

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.