Sei Investments Co. Purchases 108,977 Shares of Glacier Bancorp, Inc. $GBCI

Sei Investments Co. raised its position in Glacier Bancorp, Inc. (NYSE:GBCI) by 17.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 741,146 shares of the company’s stock after acquiring an additional 108,977 shares during the period. Sei Investments Co.’s holdings in Glacier Bancorp were worth $33,107,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of GBCI. Vanguard Group Inc. lifted 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 worth $588,471,000 after purchasing an additional 870,335 shares in the last quarter. State Street Corp increased its stake in Glacier Bancorp by 9.9% during the 4th quarter. State Street Corp now owns 6,178,363 shares of the company’s stock valued at $272,157,000 after purchasing an additional 557,873 shares in the last quarter. Geode Capital Management LLC increased its stake in Glacier Bancorp by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company’s stock valued at $146,736,000 after purchasing an additional 237,316 shares in the last quarter. Cooke & Bieler LP raised its holdings in Glacier Bancorp by 5.3% during the fourth quarter. Cooke & Bieler LP now owns 3,049,334 shares of the company’s stock worth $134,323,000 after buying an additional 154,595 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Glacier Bancorp by 16.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,845,069 shares of the company’s stock worth $125,328,000 after buying an additional 402,939 shares during the last quarter. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 2.3%

NYSE GBCI opened at $49.10 on Tuesday. The business’s fifty day moving average is $49.75 and its 200-day moving average is $48.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 20.12 and a beta of 0.72. Glacier Bancorp, Inc. has a one year low of $39.90 and a one year high of $54.58.

Glacier Bancorp (NYSE:GBCI) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. The company had revenue of $320.94 million during the quarter. During the same quarter in the previous year, the company posted $0.57 EPS. Equities research analysts predict that Glacier Bancorp, Inc. will post 3.17 EPS for the current year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, July 7th. Glacier Bancorp’s payout ratio is presently 54.10%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GBCI. Weiss Ratings reiterated a “hold (c+)” rating on shares of Glacier Bancorp in a report on Monday, July 20th. Stephens upped their target price on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Piper Sandler lifted their price target on Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, DA Davidson reissued a “buy” rating and set a $58.00 price objective on shares of Glacier Bancorp in a report on Monday. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Glacier Bancorp presently 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.