Rhumbline Advisers raised its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 265,304 shares of the bank’s stock after buying an additional 4,918 shares during the period. Rhumbline Advisers’ holdings in Glacier Bancorp were worth $10,631,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GBCI. Oregon Public Employees Retirement Fund bought a new stake in shares of Glacier Bancorp in the 4th quarter valued at about $32,000. Norges Bank bought a new stake in shares of Glacier Bancorp in the 4th quarter valued at about $21,232,000. Vanguard Group Inc grew its position in shares of Glacier Bancorp by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 8,507,257 shares of the bank’s stock valued at $366,578,000 after buying an additional 220,519 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Glacier Bancorp during the 4th quarter valued at about $6,889,000. Finally, Geode Capital Management LLC boosted its position in shares of Glacier Bancorp by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 963,015 shares of the bank’s stock valued at $38,153,000 after purchasing an additional 95,121 shares in the last quarter. Hedge funds and other institutional investors own 80.25% of the company’s stock.
GBCI has been the topic of several research analyst reports. SunTrust Banks set a $45.00 target price on Glacier Bancorp and gave the company a “buy” rating in a research report on Tuesday, April 23rd. BidaskClub lowered Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. ValuEngine lowered Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. Finally, Zacks Investment Research lowered Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Glacier Bancorp has an average rating of “Hold” and an average price target of $44.00.
Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Thursday, April 18th. The bank reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Glacier Bancorp had a net margin of 31.38% and a return on equity of 12.83%. The business had revenue of $143.69 million for the quarter, compared to the consensus estimate of $148.14 million. Equities research analysts expect that Glacier Bancorp, Inc. will post 2.42 earnings per share for the current fiscal year.
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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.
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