Teacher Retirement System of Texas Boosts Stake in Glacier Bancorp Inc. (GBCI)
Teacher Retirement System of Texas raised its position in Glacier Bancorp Inc. (NASDAQ:GBCI) by 13.7% during the second quarter, Holdings Channel reports. The firm owned 10,670 shares of the company’s stock after buying an additional 1,287 shares during the period. Teacher Retirement System of Texas’ holdings in Glacier Bancorp were worth $284,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in GBCI. Capstone Asset Management Co. boosted its stake in shares of Glacier Bancorp by 1.8% in the second quarter. Capstone Asset Management Co. now owns 21,719 shares of the company’s stock worth $577,000 after buying an additional 390 shares during the period. Naples Global Advisors LLC purchased a new position in Glacier Bancorp during the second quarter worth $349,000. BNP Paribas Arbitrage SA boosted its position in Glacier Bancorp by 122.5% in the second quarter. BNP Paribas Arbitrage SA now owns 24,310 shares of the company’s stock worth $646,000 after buying an additional 13,382 shares during the last quarter. Renaissance Technologies LLC boosted its position in Glacier Bancorp by 51.8% in the first quarter. Renaissance Technologies LLC now owns 942,460 shares of the company’s stock worth $23,957,000 after buying an additional 321,460 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Glacier Bancorp by 5.6% in the first quarter. Geode Capital Management LLC now owns 530,082 shares of the company’s stock worth $13,474,000 after buying an additional 28,208 shares during the last quarter. 75.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Glacier Bancorp Inc. (NASDAQ:GBCI) opened at 27.95 on Friday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 17.95 and a beta of 1.47. Glacier Bancorp Inc. has a 52 week low of $21.90 and a 52 week high of $30.12. The stock has a 50 day moving average of $28.81 and a 200-day moving average of $27.16.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by $0.01. Glacier Bancorp had a net margin of 27.17% and a return on equity of 10.82%. Equities research analysts expect that Glacier Bancorp Inc. will post $1.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Tuesday, October 11th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, October 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.86%. Glacier Bancorp’s dividend payout ratio is currently 51.28%.
A number of research firms have weighed in on GBCI. Zacks Investment Research cut shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. FIG Partners cut shares of Glacier Bancorp from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 2nd. Four analysts have rated the stock with 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 $27.25.
About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. It provides banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington through its bank subsidiary, Glacier Bank (the Bank). The Company 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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