Menta Capital LLC Invests $569,000 in Glacier Bancorp, Inc. (GBCI) Stock

Menta Capital LLC acquired a new position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) during the first quarter, HoldingsChannel reports. The institutional investor acquired 14,210 shares of the bank’s stock, valued at approximately $569,000.

Other institutional investors have also recently made changes to their positions in the company. Dearborn Partners LLC lifted its stake in Glacier Bancorp by 5.0% during the 1st quarter. Dearborn Partners LLC now owns 492,957 shares of the bank’s stock valued at $19,753,000 after acquiring an additional 23,368 shares in the last quarter. Buffington Mohr McNeal bought a new position in Glacier Bancorp during the 1st quarter valued at $31,000. SG Americas Securities LLC lifted its stake in Glacier Bancorp by 62.5% during the 1st quarter. SG Americas Securities LLC now owns 59,159 shares of the bank’s stock valued at $2,371,000 after acquiring an additional 22,749 shares in the last quarter. Bank of Montreal Can lifted its stake in Glacier Bancorp by 3.7% during the 1st quarter. Bank of Montreal Can now owns 6,776 shares of the bank’s stock valued at $271,000 after acquiring an additional 243 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Glacier Bancorp by 167.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 39,983 shares of the bank’s stock valued at $1,602,000 after acquiring an additional 25,061 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Several equities analysts have weighed in on the company. SunTrust Banks set a $45.00 price objective on Glacier Bancorp and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Zacks Investment Research cut Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. BidaskClub upgraded Glacier Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 9th. ValuEngine cut Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, February 2nd. Finally, Stephens assumed coverage on Glacier Bancorp in a research note on Monday, January 14th. They set an “equal weight” rating and a $42.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Glacier Bancorp presently has an average rating of “Hold” and an average target price of $44.00.

Shares of NASDAQ:GBCI opened at $43.24 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.10. Glacier Bancorp, Inc. has a 1-year low of $36.79 and a 1-year high of $47.67. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 1.79 and a beta of 1.24.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, April 18th. The bank reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.01). The business had revenue of $143.69 million for the quarter, compared to the consensus estimate of $148.14 million. Glacier Bancorp had a return on equity of 12.83% and a net margin of 31.38%. As a group, sell-side analysts forecast that Glacier Bancorp, Inc. will post 2.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 9th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was 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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Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

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