Park Avenue Securities LLC acquired a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,434 shares of the bank’s stock, valued at approximately $273,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GBCI. Thrivent Financial for Lutherans raised its holdings in shares of Glacier Bancorp by 19.8% during the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after purchasing an additional 280,255 shares during the last quarter. Millennium Management LLC raised its stake in Glacier Bancorp by 131.9% during the 2nd quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after buying an additional 271,398 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Glacier Bancorp by 123.9% during the 2nd quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock valued at $12,393,000 after buying an additional 183,757 shares during the period. Pier Capital LLC purchased a new position in shares of Glacier Bancorp in the 3rd quarter worth $7,443,000. Finally, Clifford Capital Partners LLC grew its holdings in shares of Glacier Bancorp by 40.9% in the second quarter. Clifford Capital Partners LLC now owns 422,951 shares of the bank’s stock worth $15,785,000 after acquiring an additional 122,842 shares during the period. 80.17% of the stock is owned by institutional investors.
Glacier Bancorp Stock Performance
Shares of NASDAQ GBCI opened at $50.53 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. Glacier Bancorp, Inc. has a 1 year low of $34.35 and a 1 year high of $60.67. The firm has a fifty day moving average price of $53.10 and a 200-day moving average price of $48.52. The stock has a market cap of $5.73 billion, a PE ratio of 31.19 and a beta of 0.81.
Glacier Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 10th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Tuesday, December 10th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 81.48%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on GBCI. Piper Sandler increased their target price on Glacier Bancorp from $56.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Keefe, Bruyette & Woods boosted their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Truist Financial increased their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Raymond James reissued an “outperform” rating and set a $55.00 price objective (up previously from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $52.00.
Read Our Latest Research Report on GBCI
Glacier Bancorp Profile
Glacier Bancorp, Inc operates as the bank 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. The company offers retail banking, business banking, and mortgage origination and loan servicing services.
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