Raymond James Financial Services Advisors Inc. boosted its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 26.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,700 shares of the bank’s stock after purchasing an additional 6,547 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Glacier Bancorp were worth $1,270,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Berman Capital Advisors LLC purchased a new stake in Glacier Bancorp during the 4th quarter worth $26,000. Buffington Mohr McNeal purchased a new stake in Glacier Bancorp during the 1st quarter worth $31,000. Oregon Public Employees Retirement Fund purchased a new stake in Glacier Bancorp during the 4th quarter worth $32,000. Toronto Dominion Bank purchased a new stake in Glacier Bancorp during the 4th quarter worth $39,000. Finally, FMR LLC boosted its stake in Glacier Bancorp by 97.5% during the 4th quarter. FMR LLC now owns 1,722 shares of the bank’s stock valued at $68,000 after purchasing an additional 850 shares during the period. 77.38% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director David C. Boyles sold 25,399 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $40.32, for a total transaction of $1,024,087.68. Following the sale, the director now owns 1,218 shares in the company, valued at $49,109.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is owned by insiders.
Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, April 18th. The bank reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Glacier Bancorp had a return on equity of 12.83% and a net margin of 31.38%. The business had revenue of $143.69 million during the quarter, compared to the consensus estimate of $148.14 million. On average, research analysts forecast that Glacier Bancorp, Inc. will post 2.43 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, July 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.66%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.26. Glacier Bancorp’s payout ratio is currently 47.93%.
GBCI has been the subject of a number of analyst reports. BidaskClub lowered shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Zacks Investment Research lowered shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, SunTrust Banks set a $45.00 target price on shares of Glacier Bancorp and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Glacier Bancorp currently has an average rating of “Hold” and an average target price of $43.80.
About Glacier Bancorp
Glacier Bancorp, Inc operates as the 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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.
Further Reading: How do candlesticks reflect price movement?
Receive News & Ratings for Glacier Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glacier Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.