New Mexico Educational Retirement Board grew its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI – Free Report) by 12.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,600 shares of the bank’s stock after acquiring an additional 2,500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Glacier Bancorp were worth $704,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC boosted its position in Glacier Bancorp by 124.9% in the first quarter. Parallel Advisors LLC now owns 785 shares of the bank’s stock worth $33,000 after purchasing an additional 436 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Glacier Bancorp in the first quarter worth about $36,000. Dark Forest Capital Management LP boosted its position in Glacier Bancorp by 163.6% in the fourth quarter. Dark Forest Capital Management LP now owns 746 shares of the bank’s stock worth $37,000 after purchasing an additional 463 shares during the last quarter. Covestor Ltd boosted its position in Glacier Bancorp by 115.0% in the first quarter. Covestor Ltd now owns 1,045 shares of the bank’s stock worth $53,000 after purchasing an additional 559 shares during the last quarter. Finally, TCTC Holdings LLC purchased a new position in Glacier Bancorp in the first quarter worth about $54,000. 76.91% of the stock is currently owned by institutional investors.
Glacier Bancorp Price Performance
GBCI opened at $28.19 on Wednesday. The business has a fifty day moving average of $30.47 and a 200 day moving average of $32.72. Glacier Bancorp, Inc. has a 52-week low of $26.77 and a 52-week high of $59.70. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.13 billion, a P/E ratio of 11.32 and a beta of 0.80.
Glacier Bancorp Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, October 6th. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 dividend on an annualized basis and a yield of 4.68%. Glacier Bancorp’s payout ratio is 53.01%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. DA Davidson raised their price objective on Glacier Bancorp from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Stephens reissued an “equal weight” rating and set a $31.00 target price on shares of Glacier Bancorp in a research note on Friday, July 21st. Raymond James lifted their target price on Glacier Bancorp from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th. Truist Financial cut their price target on Glacier Bancorp from $34.00 to $31.00 and set a “hold” rating for the company in a report on Wednesday, September 27th. Finally, Piper Sandler cut their price target on Glacier Bancorp from $34.00 to $31.00 in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.60.
Check Out Our Latest Analysis on Glacier Bancorp
About Glacier Bancorp
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. 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 deposit, negotiated-rate jumbo certificates, and individual retirement accounts.
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