Glacier Bancorp, Inc. (GBCI) Shares Bought by Koch Industries Inc.
Koch Industries Inc. lifted its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 6,383.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 415,853 shares of the bank’s stock after purchasing an additional 409,439 shares during the quarter. Koch Industries Inc. owned about 0.53% of Glacier Bancorp worth $405,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. California Public Employees Retirement System grew its holdings in shares of Glacier Bancorp by 1.5% during the 2nd quarter. California Public Employees Retirement System now owns 180,500 shares of the bank’s stock worth $6,608,000 after purchasing an additional 2,600 shares during the period. Northern Trust Corp grew its holdings in shares of Glacier Bancorp by 7.5% during the 2nd quarter. Northern Trust Corp now owns 1,375,756 shares of the bank’s stock worth $50,366,000 after purchasing an additional 96,330 shares during the period. Teachers Advisors LLC grew its holdings in shares of Glacier Bancorp by 6.0% during the 2nd quarter. Teachers Advisors LLC now owns 137,408 shares of the bank’s stock worth $5,031,000 after purchasing an additional 7,746 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Glacier Bancorp by 2.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 395,892 shares of the bank’s stock worth $14,494,000 after purchasing an additional 9,858 shares during the period. Finally, Amalgamated Bank grew its holdings in shares of Glacier Bancorp by 1.9% during the 2nd quarter. Amalgamated Bank now owns 10,526 shares of the bank’s stock worth $385,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 80.86% of the company’s stock.
GBCI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods set a $36.00 price target on Glacier Bancorp and gave the stock a “hold” rating in a report on Monday, June 26th. BidaskClub upgraded Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Piper Jaffray Companies reiterated a “hold” rating and set a $37.00 price target on shares of Glacier Bancorp in a report on Wednesday, July 12th. Finally, Zacks Investment Research cut Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th.
Glacier Bancorp, Inc. (GBCI) traded up 0.93% during trading on Monday, hitting $37.09. The stock had a trading volume of 128,159 shares. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 22.48 and a beta of 1.48. Glacier Bancorp, Inc. has a one year low of $27.31 and a one year high of $38.18. The stock’s 50-day moving average is $35.13 and its 200 day moving average is $34.63.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.01). The business had revenue of $113.91 million during the quarter, compared to analysts’ expectations of $115.60 million. Glacier Bancorp had a net margin of 27.30% and a return on equity of 11.02%. During the same period in the prior year, the firm earned $0.40 EPS. Equities analysts anticipate that Glacier Bancorp, Inc. will post $1.78 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 21st were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Wednesday, September 20th. Glacier Bancorp’s dividend payout ratio is currently 50.91%.
About Glacier Bancorp
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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