1,144,784 Shares in Glacier Bancorp, Inc. $GBCI Purchased by Madison Asset Management LLC

Madison Asset Management LLC acquired a new stake in Glacier Bancorp, Inc. (NYSE:GBCI) during the second quarter, Holdings Channel reports. The firm acquired 1,144,784 shares of the company’s stock, valued at approximately $59,048,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Glacier Bancorp in the second quarter worth about $913,766,000. Norges Bank purchased a new stake in shares of Glacier Bancorp during the 4th quarter valued at approximately $67,582,000. Bank of New York Mellon Corp bought a new position in Glacier Bancorp in the 2nd quarter worth approximately $55,775,000. Vanguard Group Inc. boosted its holdings in 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 buying an additional 870,335 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Glacier Bancorp in the 1st quarter valued at approximately $33,197,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Performance

Glacier Bancorp stock opened at $47.94 on Thursday. Glacier Bancorp, Inc. has a 1-year low of $39.90 and a 1-year high of $54.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6.24 billion, a PE ratio of 19.65 and a beta of 0.74. The firm’s 50 day simple moving average is $50.39 and its 200 day simple moving average is $48.51.

Glacier Bancorp (NYSE:GBCI) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. The firm had revenue of $320.94 million during the quarter. Glacier Bancorp had a net margin of 19.72% and a return on equity of 7.97%. During the same period in the previous year, the business earned $0.57 earnings per share. As a group, analysts expect that Glacier Bancorp, Inc. will post 3.11 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, July 7th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio (DPR) is 54.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GBCI shares. DA Davidson reissued a “buy” rating and set a $58.00 target price on shares of Glacier Bancorp in a report on Monday, July 27th. Piper Sandler raised their price target on Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Weiss Ratings upgraded Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. Finally, Stephens boosted their price objective on Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Glacier Bancorp currently has an average rating of “Moderate Buy” and an average target price of $55.17.

Glacier Bancorp Company 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.