Paloma Partners Management Co purchased a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 15,309 shares of the bank’s stock, valued at approximately $607,000.
Other institutional investors also recently modified their holdings of the company. Berman Capital Advisors LLC purchased a new stake in shares of Glacier Bancorp during the 4th quarter worth $26,000. Toronto Dominion Bank purchased a new stake in Glacier Bancorp in the fourth quarter valued at $39,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Glacier Bancorp by 155.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,039 shares of the bank’s stock valued at $120,000 after buying an additional 1,850 shares during the last quarter. LS Investment Advisors LLC raised its holdings in shares of Glacier Bancorp by 52.7% in the fourth quarter. LS Investment Advisors LLC now owns 3,622 shares of the bank’s stock valued at $144,000 after buying an additional 1,250 shares during the last quarter. Finally, Northwest Quadrant Wealth Management LLC purchased a new stake in shares of Glacier Bancorp in the fourth quarter valued at about $204,000. 80.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on GBCI shares. BidaskClub upgraded shares of Glacier Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 9th. Zacks Investment Research lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. ValuEngine lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, February 2nd. Finally, Stephens initiated coverage on shares of Glacier Bancorp in a research report on Monday, January 14th. They set an “equal weight” rating and a $42.00 target price on the stock. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $43.00.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, January 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.02). Glacier Bancorp had a return on equity of 12.33% and a net margin of 30.94%. The business had revenue of $144.37 million during the quarter, compared to analyst estimates of $148.02 million. Research analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Tuesday, April 9th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Monday, April 8th. Glacier Bancorp’s payout ratio is 47.93%.
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About Glacier Bancorp
Glacier Bancorp, Inc operates as the 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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