Rafferty Asset Management LLC Acquires 3,718 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Rafferty Asset Management LLC boosted its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,940 shares of the bank’s stock after acquiring an additional 3,718 shares during the quarter. Rafferty Asset Management LLC’s holdings in Glacier Bancorp were worth $5,873,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Capital International Investors grew its stake in Glacier Bancorp by 5.8% during the fourth quarter. Capital International Investors now owns 2,092,571 shares of the bank’s stock worth $105,089,000 after buying an additional 115,620 shares during the last quarter. Northern Trust Corp grew its stake in Glacier Bancorp by 7.7% during the fourth quarter. Northern Trust Corp now owns 1,763,983 shares of the bank’s stock worth $88,587,000 after buying an additional 126,316 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Glacier Bancorp by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank’s stock worth $59,988,000 after buying an additional 52,566 shares during the last quarter. Norges Bank bought a new stake in Glacier Bancorp during the fourth quarter worth about $56,923,000. Finally, Snyder Capital Management L P grew its stake in Glacier Bancorp by 3.4% during the fourth quarter. Snyder Capital Management L P now owns 1,123,980 shares of the bank’s stock worth $56,446,000 after buying an additional 37,472 shares during the last quarter. 80.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on GBCI. Piper Sandler decreased their price objective on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Raymond James set a $45.00 target price on shares of Glacier Bancorp in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Glacier Bancorp from $55.00 to $50.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.50.

Glacier Bancorp Price Performance

Shares of GBCI stock opened at $42.70 on Friday. Glacier Bancorp, Inc. has a 1 year low of $34.48 and a 1 year high of $60.67. The firm’s 50 day moving average is $42.04 and its 200-day moving average is $48.47. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 25.57 and a beta of 0.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI) last announced its earnings results on Monday, April 28th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter last year, the business earned $0.29 EPS. Sell-side analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 8th were issued a $0.33 dividend. The ex-dividend date was Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.09%. Glacier Bancorp’s dividend payout ratio is currently 70.97%.

Glacier Bancorp 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.