Northwestern Mutual Wealth Management Co. Takes $647,000 Position in Glacier Bancorp, Inc. $GBCI

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Glacier Bancorp, Inc. (NYSE:GBCI) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,537 shares of the company’s stock, valued at approximately $647,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GBCI. BlackRock Inc. bought a new stake in Glacier Bancorp during the 2nd quarter valued at $913,766,000. Vanguard Group Inc. boosted its holdings in shares of Glacier Bancorp by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock worth $588,471,000 after acquiring an additional 870,335 shares during the period. State Street Corp grew its position in shares of Glacier Bancorp by 9.9% in the fourth quarter. State Street Corp now owns 6,178,363 shares of the company’s stock valued at $272,157,000 after purchasing an additional 557,873 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Glacier Bancorp by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company’s stock valued at $146,736,000 after purchasing an additional 237,316 shares in the last quarter. Finally, Cooke & Bieler LP raised its stake in shares of Glacier Bancorp by 5.3% during the 4th quarter. Cooke & Bieler LP now owns 3,049,334 shares of the company’s stock valued at $134,323,000 after purchasing an additional 154,595 shares during the period. 80.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GBCI has been the topic of a number of recent research reports. Weiss Ratings raised Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Stephens upped their price target on Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, DA Davidson reiterated a “buy” rating and set a $58.00 price target on shares of Glacier Bancorp in a research report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.17.

Glacier Bancorp Price Performance

NYSE:GBCI opened at $47.26 on Thursday. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 19.37 and a beta of 0.74. Glacier Bancorp, Inc. has a 52-week low of $39.90 and a 52-week high of $54.58. The stock has a fifty day moving average of $50.20 and a 200 day moving average of $48.35. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84.

Glacier Bancorp (NYSE:GBCI) last announced its earnings results on Thursday, July 23rd. The company reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. The business had revenue of $320.94 million for the quarter. Glacier Bancorp had a return on equity of 7.97% and a net margin of 19.72%.During the same quarter in the prior year, the company earned $0.57 earnings per share. On average, research analysts expect that Glacier Bancorp, Inc. will post 3.11 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. Glacier Bancorp’s payout ratio is presently 54.10%.

About Glacier Bancorp

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.