Louisiana State Employees Retirement System Acquires Shares of 37,300 Glacier Bancorp, Inc. $GBCI

Louisiana State Employees Retirement System bought a new stake in Glacier Bancorp, Inc. (NYSE:GBCI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 37,300 shares of the company’s stock, valued at approximately $1,666,000.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in Glacier Bancorp by 30.9% in the first quarter. AQR Capital Management LLC now owns 31,176 shares of the company’s stock worth $1,358,000 after purchasing an additional 7,359 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Glacier Bancorp by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the company’s stock worth $59,799,000 after buying an additional 73,756 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Glacier Bancorp by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the company’s stock worth $15,587,000 after buying an additional 26,157 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock worth $31,000 after acquiring an additional 490 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Glacier Bancorp during the 2nd quarter worth approximately $2,011,000. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Performance

Shares of NYSE:GBCI opened at $52.77 on Thursday. The firm has a 50 day moving average of $48.46 and a 200 day moving average of $47.52. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 24.66 and a beta of 0.72. Glacier Bancorp, Inc. has a 52 week low of $39.90 and a 52 week high of $53.99.

Glacier Bancorp (NYSE:GBCI) last announced 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 business had revenue of $309.61 million for the quarter. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.During the same quarter in the prior year, the business posted $0.48 earnings per share. On average, sell-side analysts predict that Glacier Bancorp, Inc. will post 3.16 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, July 7th will be given 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 yield of 2.5%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 61.68%.

Wall Street Analysts Forecast Growth

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