Standard Life Aberdeen plc trimmed its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 876,096 shares of the bank’s stock after selling 37,995 shares during the period. Standard Life Aberdeen plc’s holdings in Glacier Bancorp were worth $40,292,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Great Diamond Partners LLC purchased a new stake in Glacier Bancorp during the 4th quarter valued at $27,000. Americana Partners LLC bought a new stake in Glacier Bancorp in the fourth quarter valued at $40,000. Sowell Financial Services LLC boosted its holdings in Glacier Bancorp by 36.9% in the fourth quarter. Sowell Financial Services LLC now owns 2,292 shares of the bank’s stock valued at $105,000 after acquiring an additional 618 shares in the last quarter. Point72 Asset Management L.P. increased its position in Glacier Bancorp by 1,300.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,800 shares of the bank’s stock valued at $113,000 after purchasing an additional 2,600 shares during the period. Finally, Lenox Wealth Management Inc. increased its position in Glacier Bancorp by 10.7% during the 4th quarter. Lenox Wealth Management Inc. now owns 3,059 shares of the bank’s stock valued at $141,000 after purchasing an additional 295 shares during the period. 76.03% of the stock is currently owned by institutional investors.
Several brokerages have commented on GBCI. DA Davidson upgraded shares of Glacier Bancorp from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $48.00 to $36.00 in a report on Monday, March 16th. BidaskClub raised shares of Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Finally, Zacks Investment Research cut shares of Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Glacier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $42.00.
Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.01. Glacier Bancorp had a net margin of 31.10% and a return on equity of 12.30%. The company had revenue of $164.87 million for the quarter, compared to analysts’ expectations of $161.50 million. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 2.33 earnings per share for the current year.
In other Glacier Bancorp news, Director John W. Murdoch bought 1,000 shares of Glacier Bancorp stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $27.82 per share, with a total value of $27,820.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Randall M. Chesler bought 3,540 shares of Glacier Bancorp stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $28.20 per share, with a total value of $99,828.00. Following the acquisition, the chief executive officer now owns 58,489 shares in the company, valued at approximately $1,649,389.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 8,440 shares of company stock valued at $242,137. 0.53% of the stock is owned by company insiders.
Glacier Bancorp Profile
Glacier Bancorp, Inc operates as the holding company for Glacier Bank that provides commercial banking services to individuals, small to medium-sized businesses, community organizations, and public entities in the United States. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.
Further Reading: Outstanding Shares, Buying and Selling Stocks
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