Glacier Bancorp, Inc. $GBCI Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in Glacier Bancorp, Inc. (NYSE:GBCI) by 3.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 289,928 shares of the company’s stock after buying an additional 10,862 shares during the period. Principal Financial Group Inc. owned about 0.22% of Glacier Bancorp worth $12,951,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp raised its stake in Glacier Bancorp by 2,984.7% during the first quarter. Fifth Third Bancorp now owns 39,978 shares of the company’s stock worth $1,786,000 after acquiring an additional 38,682 shares during the period. Equitable Trust Co. raised its position in shares of Glacier Bancorp by 14.8% during the 1st quarter. Equitable Trust Co. now owns 8,934 shares of the company’s stock worth $399,000 after purchasing an additional 1,155 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Glacier Bancorp by 2.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 26,448 shares of the company’s stock worth $1,181,000 after purchasing an additional 700 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Glacier Bancorp by 26.1% in the 1st quarter. QRG Capital Management Inc. now owns 9,129 shares of the company’s stock worth $408,000 after purchasing an additional 1,891 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in Glacier Bancorp during the 1st quarter valued at approximately $208,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Down 0.6%

NYSE:GBCI opened at $50.32 on Friday. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 20.62 and a beta of 0.72. Glacier Bancorp, Inc. has a 1-year low of $39.90 and a 1-year high of $54.58. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average price is $49.70 and its 200 day moving average price is $48.33.

Glacier Bancorp (NYSE:GBCI) last released its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. Glacier Bancorp had a net margin of 19.72% and a return on equity of 8.12%. The company had revenue of $320.94 million during the quarter. During the same quarter in the previous year, the company earned $0.57 EPS. On average, sell-side analysts forecast that Glacier Bancorp, Inc. will post 3.16 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 dividend on an annualized basis and a yield of 2.6%. Glacier Bancorp’s dividend payout ratio (DPR) is 61.68%.

Analyst Ratings Changes

A number of research analysts recently commented on GBCI shares. Piper Sandler upped their price objective on Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. DA Davidson raised their target price on Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Stephens boosted their price target on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Glacier Bancorp in a research report on Monday. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.17.

Glacier Bancorp Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.