Glacier Bancorp, Inc. (GBCI) Shares Bought by Prudential Financial Inc.

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Prudential Financial Inc. boosted its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,439 shares of the bank’s stock after acquiring an additional 10,563 shares during the period. Prudential Financial Inc.’s holdings in Glacier Bancorp were worth $6,913,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Glacier Bancorp by 9.6% during the 2nd quarter. BlackRock Inc. now owns 11,832,235 shares of the bank’s stock worth $457,672,000 after acquiring an additional 1,032,929 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Glacier Bancorp by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,245,337 shares of the bank’s stock worth $86,852,000 after purchasing an additional 22,001 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Glacier Bancorp by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,180,327 shares of the bank’s stock worth $45,654,000 after purchasing an additional 28,769 shares during the period. Eagle Asset Management Inc. bought a new position in shares of Glacier Bancorp during the 2nd quarter worth about $28,939,000. Finally, Carillon Tower Advisers Inc. bought a new position in shares of Glacier Bancorp during the 2nd quarter worth about $26,929,000. 82.56% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:GBCI opened at $44.52 on Friday. Glacier Bancorp, Inc. has a 52-week low of $35.77 and a 52-week high of $47.67. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. The stock has a market cap of $3.78 billion, a PE ratio of 22.00, a P/E/G ratio of 2.04 and a beta of 1.25.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, October 18th. The bank reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.02). Glacier Bancorp had a return on equity of 11.96% and a net margin of 26.36%. The company had revenue of $146.16 million for the quarter, compared to the consensus estimate of $144.01 million. On average, research analysts expect that Glacier Bancorp, Inc. will post 2.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Tuesday, December 11th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, December 10th. This represents a $1.04 annualized dividend and a dividend yield of 2.34%. Glacier Bancorp’s payout ratio is 59.43%.

Several research firms have recently issued reports on GBCI. BidaskClub downgraded shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. ValuEngine upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research downgraded shares of Glacier Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $42.83.

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Glacier Bancorp Company Profile

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 deposit products, including non-interest bearing deposits, interest bearing 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: What are different types of coverage ratios?

Want to see what other hedge funds are holding GBCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Glacier Bancorp, Inc. (NASDAQ:GBCI).

Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

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