Commerce Bank raised its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 32.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,420 shares of the bank’s stock after buying an additional 3,525 shares during the quarter. Commerce Bank’s holdings in Glacier Bancorp were worth $545,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in GBCI. FMR LLC lifted its position in Glacier Bancorp by 51.5% during the first quarter. FMR LLC now owns 218,800 shares of the bank’s stock valued at $7,424,000 after buying an additional 74,400 shares during the period. Teachers Advisors LLC lifted its position in Glacier Bancorp by 2.7% during the first quarter. Teachers Advisors LLC now owns 129,662 shares of the bank’s stock valued at $4,399,000 after buying an additional 3,358 shares during the period. Bank of Montreal Can lifted its position in Glacier Bancorp by 39.9% during the second quarter. Bank of Montreal Can now owns 6,799 shares of the bank’s stock valued at $249,000 after buying an additional 1,940 shares during the period. LS Investment Advisors LLC lifted its position in Glacier Bancorp by 4.9% during the second quarter. LS Investment Advisors LLC now owns 2,864 shares of the bank’s stock valued at $105,000 after buying an additional 134 shares during the period. Finally, Aperio Group LLC lifted its position in Glacier Bancorp by 3.7% during the second quarter. Aperio Group LLC now owns 17,385 shares of the bank’s stock valued at $636,000 after buying an additional 622 shares during the period. 84.40% of the stock is owned by institutional investors and hedge funds.
In other Glacier Bancorp news, Director Michael J. Blodnick sold 45,060 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $37.88, for a total value of $1,706,872.80. Following the completion of the transaction, the director now owns 27,576 shares of the company’s stock, valued at approximately $1,044,578.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is currently owned by insiders.
Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, October 19th. The bank reported $0.47 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.47. Glacier Bancorp had a return on equity of 11.35% and a net margin of 27.69%. The business had revenue of $120.00 million during the quarter, compared to analyst estimates of $121.07 million. sell-side analysts anticipate that Glacier Bancorp, Inc. will post 1.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Tuesday, December 5th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, December 4th. Glacier Bancorp’s dividend payout ratio (DPR) is 48.84%.
Several equities analysts have commented on the company. Keefe, Bruyette & Woods set a $36.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a research report on Monday, August 28th. Zacks Investment Research lowered Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. SunTrust Banks reaffirmed a “buy” rating and issued a $42.00 price target on shares of Glacier Bancorp in a research report on Wednesday, November 29th. BidaskClub raised Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Piper Jaffray Companies set a $38.00 price target on Glacier Bancorp and gave the stock a “hold” rating in a research report on Saturday, October 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.67.
Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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