Madison Investment Holdings Inc. Has $27.95 Million Holdings in Glacier Bancorp, Inc. (GBCI)
Madison Investment Holdings Inc. decreased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 709,629 shares of the bank’s stock after selling 25,346 shares during the period. Madison Investment Holdings Inc.’s holdings in Glacier Bancorp were worth $27,952,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in shares of Glacier Bancorp by 34.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,698 shares of the bank’s stock worth $135,000 after purchasing an additional 947 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Glacier Bancorp by 45.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,627 shares of the bank’s stock worth $182,000 after purchasing an additional 1,454 shares during the period. Victory Capital Management Inc. raised its position in shares of Glacier Bancorp by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 24,626 shares of the bank’s stock worth $970,000 after purchasing an additional 1,496 shares during the period. Trust Co raised its position in shares of Glacier Bancorp by 21.6% during the third quarter. Trust Co now owns 9,850 shares of the bank’s stock worth $372,000 after purchasing an additional 1,750 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of Glacier Bancorp by 6.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 33,600 shares of the bank’s stock worth $1,324,000 after purchasing an additional 2,000 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
Glacier Bancorp, Inc. (GBCI) opened at $40.43 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $3,153.82, a PE ratio of 23.10, a P/E/G ratio of 1.80 and a beta of 1.38. Glacier Bancorp, Inc. has a fifty-two week low of $31.38 and a fifty-two week high of $41.23.
A number of equities research analysts have recently commented on the company. Zacks Investment Research lowered Glacier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. BidaskClub raised Glacier Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, February 3rd. SunTrust Banks reaffirmed a “buy” rating and set a $43.00 price target on shares of Glacier Bancorp in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $41.00 price target on shares of Glacier Bancorp in a research report on Friday, December 22nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $41.25.
In related news, insider Don J. Chery sold 12,000 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $38.29, for a total transaction of $459,480.00. Following the completion of the transaction, the insider now directly owns 30,270 shares in the company, valued at $1,159,038.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael J. Blodnick sold 25,338 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $38.38, for a total value of $972,472.44. Following 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. 0.65% of the stock is currently owned by company insiders.
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Glacier Bancorp Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of January 26, 2018, it provided banking services from 146 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.
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