Peregrine Capital Management LLC Raises Stock Position in Glacier Bancorp, Inc. $GBCI

Peregrine Capital Management LLC grew its holdings in Glacier Bancorp, Inc. (NYSE:GBCI) by 11.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 256,997 shares of the company’s stock after acquiring an additional 25,476 shares during the period. Peregrine Capital Management LLC’s holdings in Glacier Bancorp were worth $11,321,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Glacier Bancorp by 218.8% in the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock worth $31,000 after buying an additional 490 shares in the last quarter. Mather Group LLC. purchased a new stake in Glacier Bancorp in the 3rd quarter worth $35,000. Measured Wealth Private Client Group LLC purchased a new stake in Glacier Bancorp in the 3rd quarter worth $40,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Glacier Bancorp by 1,176.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,264 shares of the company’s stock valued at $62,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Glacier Bancorp by 20.4% during the third quarter. Farther Finance Advisors LLC now owns 1,609 shares of the company’s stock valued at $78,000 after purchasing an additional 273 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

Analysts Set New Price Targets

GBCI has been the topic of a number of research analyst reports. Janney Montgomery Scott assumed coverage on Glacier Bancorp in a research report on Tuesday, February 10th. They issued a “neutral” rating and a $55.00 target price on the stock. Stephens set a $58.00 price target on Glacier Bancorp in a report on Monday, January 26th. DA Davidson upped their price objective on Glacier Bancorp from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Keefe, Bruyette & Woods reiterated an “underperform” rating on shares of Glacier Bancorp in a research report on Monday, January 26th. Finally, Piper Sandler set a $59.00 price target on shares of Glacier Bancorp and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.67.

Glacier Bancorp Trading Up 0.7%

GBCI stock traded up $0.33 during mid-day trading on Thursday, reaching $49.19. 58,944 shares of the stock traded hands, compared to its average volume of 1,011,883. The business has a 50-day moving average price of $46.51 and a two-hundred day moving average price of $45.75. The stock has a market capitalization of $6.40 billion, a PE ratio of 24.65 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.82 and a current ratio of 0.83. Glacier Bancorp, Inc. has a one year low of $39.77 and a one year high of $53.99.

Glacier Bancorp (NYSE:GBCI) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13). Glacier Bancorp had a return on equity of 6.68% and a net margin of 16.63%.During the same quarter in the previous year, the business earned $0.54 earnings per share. Equities research analysts expect that Glacier Bancorp, Inc. will post 3.17 EPS for the current year.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Tuesday, April 7th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, April 7th. Glacier Bancorp’s dividend payout ratio is presently 66.33%.

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.