M&T Bank Corp Purchases 19,911 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

M&T Bank Corp grew its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 23.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,672 shares of the bank’s stock after purchasing an additional 19,911 shares during the quarter. M&T Bank Corp owned about 0.09% of Glacier Bancorp worth $4,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GBCI. Benjamin F. Edwards & Company Inc. grew its position in Glacier Bancorp by 5,065.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 586,360 shares of the bank’s stock worth $24,228,000 after buying an additional 575,008 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of Glacier Bancorp by 22.2% in the fourth quarter. Natixis Advisors L.P. now owns 35,107 shares of the bank’s stock worth $1,450,000 after purchasing an additional 6,376 shares during the last quarter. Johnson Financial Group LLC purchased a new stake in Glacier Bancorp in the fourth quarter valued at approximately $248,000. Retirement Systems of Alabama lifted its position in Glacier Bancorp by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 138,871 shares of the bank’s stock valued at $5,738,000 after purchasing an additional 431 shares during the last quarter. Finally, Cercano Management LLC purchased a new position in Glacier Bancorp in the 4th quarter worth approximately $13,112,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

GBCI opened at $37.91 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $4.30 billion, a PE ratio of 21.66 and a beta of 0.81. The stock’s 50 day moving average price is $37.93 and its 200-day moving average price is $37.25. Glacier Bancorp, Inc. has a 52-week low of $26.77 and a 52-week high of $44.06.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Wednesday, April 24th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. The company had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. During the same period in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities research analysts predict that Glacier Bancorp, Inc. will post 1.68 EPS for the current year.

Glacier Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.48%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s payout ratio is presently 75.43%.

Analyst Ratings Changes

GBCI has been the subject of several research analyst reports. Stephens dropped their price target on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 23rd. Truist Financial reduced their price target on shares of Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. Finally, DA Davidson cut their price target on shares of Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Glacier Bancorp presently has a consensus rating of “Hold” and an average target price of $40.40.

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.