Jennison Associates LLC decreased its stake in Glacier Bancorp Inc. (NASDAQ:GBCI) by 6.4% during the third quarter, Holdings Channel reports. The institutional investor owned 67,170 shares of the company’s stock after selling 4,619 shares during the period. Jennison Associates LLC owned approximately 0.09% of Glacier Bancorp worth $1,916,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Pacad Investment Ltd. acquired a new stake in shares of Glacier Bancorp during the second quarter valued at about $100,000. Tower Research Capital LLC TRC purchased a new stake in shares of Glacier Bancorp during the second quarter valued at $102,000. Bank of Montreal Can purchased a new stake in shares of Glacier Bancorp during the second quarter valued at $117,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Glacier Bancorp during the second quarter valued at $120,000. Finally, Strs Ohio boosted its stake in shares of Glacier Bancorp by 20.5% in the second quarter. Strs Ohio now owns 4,700 shares of the company’s stock valued at $124,000 after buying an additional 800 shares during the period. 76.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Glacier Bancorp Inc. (NASDAQ:GBCI) traded up 0.46% during mid-day trading on Friday, reaching $34.96. 143,003 shares of the company traded hands. Glacier Bancorp Inc. has a 52-week low of $21.90 and a 52-week high of $34.97. The firm’s 50 day moving average price is $29.83 and its 200-day moving average price is $28.13. The company has a market capitalization of $2.68 billion, a P/E ratio of 22.27 and a beta of 1.34.
Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, October 20th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.42 by $0.02. Glacier Bancorp had a net margin of 26.97% and a return on equity of 10.77%. Equities analysts predict that Glacier Bancorp Inc. will post $1.60 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, December 2nd. Glacier Bancorp’s dividend payout ratio (DPR) is 50.96%.
Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. FIG Partners cut shares of Glacier Bancorp from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $27.25.
In other Glacier Bancorp news, insider Don J. Chery sold 3,000 shares of Glacier Bancorp stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $33.26, for a total value of $99,780.00. Following the completion of the sale, the insider now owns 40,166 shares in the company, valued at approximately $1,335,921.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.09% of the stock is owned by company insiders.
About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. It provides banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington through its bank subsidiary, Glacier Bank (the Bank). The Company offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.