Northwest Quadrant Wealth Management LLC acquired a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) during the fourth quarter, Holdings Channel reports. The fund acquired 4,499 shares of the company’s stock, valued at approximately $159,000.
Several other hedge funds also recently made changes to their positions in the stock. Riverhead Capital Management LLC raised its position in Glacier Bancorp by 34.9% in the third quarter. Riverhead Capital Management LLC now owns 3,800 shares of the company’s stock valued at $108,000 after buying an additional 984 shares during the period. Elkfork Partners LLC acquired a new position in Glacier Bancorp during the fourth quarter valued at approximately $154,000. Trust Co acquired a new position in Glacier Bancorp during the second quarter valued at approximately $201,000. Front Street Capital Management Inc. acquired a new position in Glacier Bancorp during the second quarter valued at approximately $238,000. Finally, Teza Capital Management LLC acquired a new position in Glacier Bancorp during the fourth quarter valued at approximately $243,000. Institutional investors and hedge funds own 76.24% of the company’s stock.
Glacier Bancorp, Inc. (NASDAQ:GBCI) traded up 2.19% during trading on Tuesday, hitting $36.43. The company had a trading volume of 491,975 shares. The company’s 50 day moving average price is $35.41 and its 200-day moving average price is $31.71. Glacier Bancorp, Inc. has a 12 month low of $22.50 and a 12 month high of $37.87. The company has a market cap of $2.79 billion, a PE ratio of 22.94 and a beta of 1.36.
Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, January 26th. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.00. Glacier Bancorp had a net margin of 26.83% and a return on equity of 10.81%. Equities analysts expect that Glacier Bancorp, Inc. will post $1.79 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 19th. Shareholders of record on Tuesday, January 10th were issued a $0.30 dividend. The ex-dividend date was Friday, January 6th. This represents a $1.20 dividend on an annualized basis and a yield of 3.29%. This is a positive change from Glacier Bancorp’s previous quarterly dividend of $0.20. Glacier Bancorp’s payout ratio is currently 50.31%.
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Separately, Zacks Investment Research lowered Glacier Bancorp from a “hold” rating to a “sell” rating in a report on Monday, November 28th.
In other Glacier Bancorp news, CEO Michael J. Blodnick sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $35.92, for a total value of $3,592,000.00. Following the transaction, the chief executive officer now owns 204,543 shares in the company, valued at approximately $7,347,184.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Murdoch sold 2,869 shares of the business’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $37.43, for a total transaction of $107,386.67. The disclosure for this sale can be found here. Insiders sold a total of 212,869 shares of company stock worth $7,737,967 in the last quarter. 1.09% of the stock is currently 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.
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