M&T Bank Corp Lowers Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

M&T Bank Corp lessened its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 39.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,437 shares of the bank’s stock after selling 46,137 shares during the quarter. M&T Bank Corp owned approximately 0.06% of Glacier Bancorp worth $3,071,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Capital International Investors raised its stake in Glacier Bancorp by 5.8% during the fourth quarter. Capital International Investors now owns 2,092,571 shares of the bank’s stock valued at $105,089,000 after purchasing an additional 115,620 shares in the last quarter. Northern Trust Corp raised its stake in Glacier Bancorp by 7.7% during the fourth quarter. Northern Trust Corp now owns 1,763,983 shares of the bank’s stock valued at $88,587,000 after purchasing an additional 126,316 shares in the last quarter. Norges Bank purchased a new stake in Glacier Bancorp during the fourth quarter valued at $56,923,000. Snyder Capital Management L P raised its stake in Glacier Bancorp by 3.4% during the fourth quarter. Snyder Capital Management L P now owns 1,123,980 shares of the bank’s stock valued at $56,446,000 after purchasing an additional 37,472 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its stake in Glacier Bancorp by 1.1% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,062,294 shares of the bank’s stock valued at $53,348,000 after purchasing an additional 12,035 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Trading Down 1.0%

NASDAQ GBCI opened at $46.20 on Friday. The company’s 50-day moving average price is $42.76 and its 200-day moving average price is $45.04. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market cap of $5.24 billion, a PE ratio of 27.66 and a beta of 0.77. Glacier Bancorp, Inc. has a 12 month low of $36.76 and a 12 month high of $60.67.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Monday, April 28th. The bank reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the previous year, the firm earned $0.29 EPS. Equities research analysts forecast that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Tuesday, July 8th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Tuesday, July 8th. Glacier Bancorp’s payout ratio is presently 70.97%.

Analyst Ratings Changes

A number of research firms have weighed in on GBCI. Janney Montgomery Scott upgraded shares of Glacier Bancorp from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Thursday, June 5th. Keefe, Bruyette & Woods increased their target price on shares of Glacier Bancorp from $50.00 to $52.00 and gave the company a “market perform” rating in a research note on Friday, June 27th. Raymond James Financial reissued an “outperform” rating and issued a $48.00 target price (up previously from $45.00) on shares of Glacier Bancorp in a research note on Thursday, June 26th. Finally, DA Davidson reissued a “buy” rating and issued a $50.00 target price on shares of Glacier Bancorp in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.83.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc operates as the bank holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. The company offers retail banking, business banking, and mortgage origination and loan servicing services.