Norges Bank Takes $67.58 Million Position in Glacier Bancorp, Inc. $GBCI

Norges Bank purchased a new stake in Glacier Bancorp, Inc. (NYSE:GBCI) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,534,204 shares of the company’s stock, valued at approximately $67,582,000. Norges Bank owned 1.18% of Glacier Bancorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Glacier Bancorp by 7.0% in 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 during the period. Geode Capital Management LLC increased its holdings in shares of Glacier Bancorp by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company’s stock valued at $146,736,000 after acquiring an additional 237,316 shares during the period. Cooke & Bieler LP increased its holdings in shares of Glacier Bancorp by 5.3% in the 4th quarter. Cooke & Bieler LP now owns 3,049,334 shares of the company’s stock valued at $134,323,000 after acquiring an additional 154,595 shares during the period. Capital International Investors increased its holdings in shares of Glacier Bancorp by 17.1% in the 3rd quarter. Capital International Investors now owns 1,742,780 shares of the company’s stock valued at $84,821,000 after acquiring an additional 254,514 shares during the period. Finally, Deprince Race & Zollo Inc. increased its holdings in shares of Glacier Bancorp by 30.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company’s stock valued at $73,229,000 after acquiring an additional 390,366 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Price Performance

Shares of NYSE GBCI opened at $47.16 on Friday. 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 company has a market cap of $6.14 billion, a PE ratio of 22.04 and a beta of 0.74. The business has a 50-day simple moving average of $47.37 and a two-hundred day simple moving average of $46.56. Glacier Bancorp, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $53.99.

Glacier Bancorp (NYSE:GBCI) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The business 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 period in the prior year, the business posted $0.48 EPS. As a group, equities analysts expect that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Tuesday, April 7th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, April 7th. Glacier Bancorp’s payout ratio is presently 61.68%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GBCI shares. Piper Sandler lifted their price target on Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Wall Street Zen upgraded Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. DA Davidson raised their price target on Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Brean Capital downgraded Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Weiss Ratings raised Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. Four research 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, the company presently has a consensus rating of “Hold” and a consensus target price of $55.17.

Glacier Bancorp Company 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.