NFJ Investment Group LLC Makes New $40.13 Million Investment in Glacier Bancorp, Inc. $GBCI

NFJ Investment Group LLC acquired a new position in shares of Glacier Bancorp, Inc. (NYSE:GBCI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 777,998 shares of the company’s stock, valued at approximately $40,129,000. Glacier Bancorp comprises 1.4% of NFJ Investment Group LLC’s holdings, making the stock its 20th largest position.

Several other hedge funds also recently modified their holdings of GBCI. Root Financial Partners LLC boosted its position in Glacier Bancorp by 122.5% during the first quarter. Root Financial Partners LLC now owns 652 shares of the company’s stock valued at $29,000 after purchasing an additional 359 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Glacier Bancorp during the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its position in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock worth $31,000 after purchasing an additional 490 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Glacier Bancorp by 41.2% during the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after purchasing an additional 223 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Glacier Bancorp during the 4th quarter worth approximately $35,000. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of NYSE GBCI opened at $47.26 on Friday. Glacier Bancorp, Inc. has a 1-year low of $39.90 and a 1-year high of $54.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. The firm has a market cap of $6.15 billion, a P/E ratio of 19.37 and a beta of 0.74. The business’s 50 day moving average is $50.36 and its 200-day moving average is $48.49.

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

Glacier Bancorp Dividend Announcement

The business also recently announced 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. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio is 54.10%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GBCI. Piper Sandler raised their target price on shares of Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Stephens upped their price target on shares of Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. DA Davidson reiterated a “buy” rating and issued a $58.00 price target on shares of Glacier Bancorp in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Glacier Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Glacier Bancorp has an average rating of “Moderate Buy” and a consensus price target of $55.17.

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.