Lone Peak Global Investors LLC Trims Stake in Glacier Bancorp, Inc. $GBCI

Lone Peak Global Investors LLC lowered its position in Glacier Bancorp, Inc. (NYSE:GBCI) by 27.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 327,403 shares of the company’s stock after selling 123,045 shares during the period. Glacier Bancorp accounts for about 2.3% of Lone Peak Global Investors LLC’s investment portfolio, making the stock its 26th largest holding. Lone Peak Global Investors LLC’s holdings in Glacier Bancorp were worth $16,887,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Glacier Bancorp in the second quarter worth $913,766,000. Vanguard Group Inc. raised its holdings in 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 purchasing an additional 870,335 shares in the last quarter. State Street Corp lifted its position in Glacier Bancorp by 9.9% during the fourth quarter. State Street Corp now owns 6,178,363 shares of the company’s stock valued at $272,157,000 after buying an additional 557,873 shares during the period. Geode Capital Management LLC lifted its position in Glacier Bancorp by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company’s stock valued at $146,736,000 after buying an additional 237,316 shares during the period. Finally, Cooke & Bieler LP boosted its holdings 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 buying an additional 154,595 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Stock Down 2.1%

GBCI stock opened at $45.33 on Wednesday. Glacier Bancorp, Inc. has a twelve month low of $39.90 and a twelve month high of $54.58. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. The firm has a market cap of $5.90 billion, a PE ratio of 18.58 and a beta of 0.72. The business has a 50 day moving average of $50.01 and a 200 day moving average of $48.18.

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

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp’s payout ratio is currently 54.10%.

Wall Street Analyst Weigh In

GBCI has been the topic of a number of recent research reports. DA Davidson reaffirmed a “buy” rating and issued a $58.00 target price on shares of Glacier Bancorp in a research report on Monday, July 27th. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Glacier Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

Insider Transactions at Glacier Bancorp

In other news, Chairman Craig A. Langel purchased 2,250 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average price of $47.04 per share, for a total transaction of $105,840.00. Following the purchase, the chairman directly owned 98,684 shares in the company, valued at approximately $4,642,095.36. This trade represents a 2.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

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.