Glacier Bancorp, Inc. $GBCI Position Cut by Cooke & Bieler LP

Cooke & Bieler LP decreased its position in Glacier Bancorp, Inc. (NYSE:GBCI) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,090,366 shares of the company’s stock after selling 200,771 shares during the period. Cooke & Bieler LP’s holdings in Glacier Bancorp were worth $90,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its holdings in Glacier Bancorp by 122.5% during the 1st quarter. Root Financial Partners LLC now owns 652 shares of the company’s stock worth $29,000 after purchasing an additional 359 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Glacier Bancorp during the 4th quarter valued at about $35,000. Assetmark Inc. boosted its stake in shares of Glacier Bancorp by 33.9% in the 1st quarter. Assetmark Inc. now owns 813 shares of the company’s stock valued at $36,000 after purchasing an additional 206 shares during the last quarter. Allworth Financial LP bought a new position in shares of Glacier Bancorp in the 2nd quarter valued at about $46,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Glacier Bancorp in the 2nd quarter valued at about $65,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GBCI. Weiss Ratings upgraded shares of Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. DA Davidson restated a “buy” rating and issued a $58.00 price objective on shares of Glacier Bancorp in a report on Monday, July 27th. Four equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.40.

Insiders Place Their Bets

In related news, Chairman Craig Langel bought 2,250 shares of the business’s stock in a transaction on Friday, August 28th. The shares were purchased at an average price of $47.04 per share, with a total value of $105,840.00. Following the completion of the purchase, the chairman owned 98,684 shares of the company’s stock, valued at $4,642,095.36. This represents a 2.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.

Glacier Bancorp Stock Performance

GBCI stock opened at $44.68 on Thursday. The business’s fifty day moving average is $45.39 and its 200-day moving average is $47.80. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. The company has a market cap of $5.82 billion, a P/E ratio of 17.32 and a beta of 0.77. Glacier Bancorp, Inc. has a twelve month low of $39.90 and a twelve month 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 (EPS) for the quarter, hitting the consensus estimate of $0.76. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%. The business had revenue of $320.94 million for the quarter. During the same quarter in the prior year, the business earned $0.57 earnings per share. Equities research analysts forecast that Glacier Bancorp, Inc. will post 3.10 EPS for the current year.

Glacier Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, October 6th were issued a $0.35 dividend. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, October 6th. Glacier Bancorp’s dividend payout ratio is currently 57.38%.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a regional bank holding company headquartered in Kalispell, Montana. Through its banking subsidiaries, including Glacier Bank, the company provides financial services to individuals, families, businesses and community organizations across the Mountain West and Inland Northwest.

The company’s products and services include checking and savings accounts, certificates of deposit, consumer and residential mortgages, commercial and real estate lending, agricultural loans, cash-management services and online and mobile banking.