Wells Fargo & Company MN Acquires 30,019 Shares of Glacier Bancorp, Inc. (GBCI)

Wells Fargo & Company MN raised its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 11.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 304,006 shares of the bank’s stock after purchasing an additional 30,019 shares during the period. Wells Fargo & Company MN owned approximately 0.39% of Glacier Bancorp worth $11,479,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Mutual of America Capital Management LLC lifted its holdings in shares of Glacier Bancorp by 2.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 160,380 shares of the bank’s stock worth $6,056,000 after acquiring an additional 4,399 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Glacier Bancorp by 1.5% during the 2nd quarter. California Public Employees Retirement System now owns 180,500 shares of the bank’s stock worth $6,608,000 after acquiring an additional 2,600 shares during the period. Northern Trust Corp lifted its holdings in shares of Glacier Bancorp by 7.5% during the 2nd quarter. Northern Trust Corp now owns 1,375,756 shares of the bank’s stock worth $50,366,000 after acquiring an additional 96,330 shares during the period. Teachers Advisors LLC lifted its holdings in shares of Glacier Bancorp by 6.0% during the 2nd quarter. Teachers Advisors LLC now owns 137,408 shares of the bank’s stock worth $5,031,000 after acquiring an additional 7,746 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Glacier Bancorp by 2.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 395,892 shares of the bank’s stock worth $14,494,000 after purchasing an additional 9,858 shares in the last quarter. 81.57% of the stock is owned by institutional investors.

Glacier Bancorp, Inc. (NASDAQ:GBCI) opened at $39.53 on Tuesday. The stock has a market cap of $3,080.00, a P/E ratio of 23.12, a P/E/G ratio of 2.25 and a beta of 1.45. Glacier Bancorp, Inc. has a 12-month low of $31.38 and a 12-month high of $41.23. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.24.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.47 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.47. The business had revenue of $120.00 million during the quarter, compared to analysts’ expectations of $121.07 million. Glacier Bancorp had a net margin of 27.69% and a return on equity of 11.35%. analysts anticipate that Glacier Bancorp, Inc. will post 1.77 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Tuesday, December 5th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, December 4th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 49.12%.

In other Glacier Bancorp news, Director Michael J. Blodnick sold 45,060 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $37.88, for a total value of $1,706,872.80. Following the completion of the transaction, the director now directly owns 27,576 shares in the company, valued at approximately $1,044,578.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael J. Blodnick sold 25,338 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $38.38, for a total transaction of $972,472.44. Following the completion of the transaction, the director now owns 25,497 shares of the company’s stock, valued at $978,574.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,398 shares of company stock valued at $3,138,825. Corporate insiders own 0.65% of the company’s stock.

GBCI has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Glacier Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. SunTrust Banks reiterated a “buy” rating and set a $42.00 price objective on shares of Glacier Bancorp in a research report on Wednesday, November 29th. Keefe, Bruyette & Woods set a $36.00 price objective on shares of Glacier Bancorp and gave the stock a “hold” rating in a research report on Monday, August 28th. Piper Jaffray Companies set a $38.00 price objective on shares of Glacier Bancorp and gave the stock a “hold” rating in a research report on Saturday, October 21st. Finally, Zacks Investment Research cut shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $40.33.

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About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.

Institutional Ownership by Quarter for Glacier Bancorp (NASDAQ:GBCI)

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