Rhumbline Advisers Acquires 25,836 Shares of Glacier Bancorp, Inc. (GBCI)
Rhumbline Advisers lifted its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 14.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 209,964 shares of the bank’s stock after buying an additional 25,836 shares during the quarter. Rhumbline Advisers’ holdings in Glacier Bancorp were worth $8,270,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in GBCI. Dean Investment Associates LLC acquired a new stake in shares of Glacier Bancorp during the fourth quarter worth about $4,792,000. Arizona State Retirement System boosted its stake in shares of Glacier Bancorp by 223.7% during the fourth quarter. Arizona State Retirement System now owns 131,100 shares of the bank’s stock worth $5,164,000 after buying an additional 90,604 shares during the period. GW&K Investment Management LLC boosted its stake in shares of Glacier Bancorp by 7.0% during the fourth quarter. GW&K Investment Management LLC now owns 1,308,244 shares of the bank’s stock worth $51,532,000 after buying an additional 85,261 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Glacier Bancorp by 3.5% during the third quarter. Neuberger Berman Group LLC now owns 1,683,218 shares of the bank’s stock worth $63,558,000 after buying an additional 57,397 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Glacier Bancorp by 8.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 454,718 shares of the bank’s stock worth $17,912,000 after buying an additional 33,584 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.
Several brokerages have recently weighed in on GBCI. BidaskClub upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $41.00 target price on shares of Glacier Bancorp in a research note on Friday, December 22nd. Zacks Investment Research raised shares of Glacier Bancorp from a “sell” rating to a “buy” rating and set a $44.00 price target for the company in a report on Monday, January 1st. Finally, SunTrust Banks reissued a “buy” rating and set a $42.00 price target on shares of Glacier Bancorp in a report on Wednesday, November 29th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $41.25.
Glacier Bancorp, Inc. (NASDAQ GBCI) opened at $39.31 on Friday. The stock has a market cap of $3,136.39, a PE ratio of 22.46, a P/E/G ratio of 1.75 and a beta of 1.34. Glacier Bancorp, Inc. has a 1-year low of $31.38 and a 1-year high of $41.23. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.
Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.02). The firm had revenue of $117.54 million for the quarter, compared to analysts’ expectations of $122.23 million. Glacier Bancorp had a return on equity of 11.46% and a net margin of 23.88%. analysts predict that Glacier Bancorp, Inc. will post 2.25 EPS for the current fiscal year.
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Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of January 26, 2018, it provided banking services from 146 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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