Louisiana State Employees Retirement System Acquires New Position in Glacier Bancorp, Inc. $GBCI

Louisiana State Employees Retirement System bought a new position in Glacier Bancorp, Inc. (NYSE:GBCI) in the first quarter, Holdings Channel reports. The firm bought 37,300 shares of the company’s stock, valued at approximately $1,666,000.

Several other large investors also recently bought and sold shares of the stock. Front Street Capital Management Inc. lifted its stake in shares of Glacier Bancorp by 1.1% during the fourth quarter. Front Street Capital Management Inc. now owns 19,335 shares of the company’s stock worth $852,000 after buying an additional 213 shares during the period. MML Investors Services LLC raised its stake in Glacier Bancorp by 4.6% in the 4th quarter. MML Investors Services LLC now owns 5,047 shares of the company’s stock worth $222,000 after acquiring an additional 221 shares during the last quarter. Global Retirement Partners LLC lifted its position in Glacier Bancorp by 41.2% during the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after acquiring an additional 223 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Glacier Bancorp by 1.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 19,413 shares of the company’s stock worth $855,000 after acquiring an additional 225 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Glacier Bancorp by 9.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,706 shares of the company’s stock valued at $163,000 after purchasing an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Up 2.3%

Shares of GBCI stock opened at $52.77 on Thursday. Glacier Bancorp, Inc. has a 1-year low of $39.90 and a 1-year high of $53.99. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 24.66 and a beta of 0.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a 50 day simple moving average of $48.46 and a 200-day simple moving average of $47.52.

Glacier Bancorp (NYSE:GBCI) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The firm had revenue of $309.61 million for the quarter. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. During the same period in the prior year, the business posted $0.48 EPS. On average, equities research analysts expect that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.5%. Glacier Bancorp’s dividend payout ratio is presently 61.68%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GBCI shares. DA Davidson increased their price objective on Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a report on Monday, April 27th. Piper Sandler upped their target price on Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Stephens increased their price objective on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.17.

Glacier Bancorp 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.