Proficio Capital Partners LLC Acquires Shares of 14,262 Glacier Bancorp, Inc. (NASDAQ:GBCI)

Proficio Capital Partners LLC acquired a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the fourth quarter, HoldingsChannel reports. The fund acquired 14,262 shares of the bank’s stock, valued at approximately $716,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Glacier Bancorp by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock valued at $132,662,000 after buying an additional 41,160 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Glacier Bancorp by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock valued at $74,402,000 after buying an additional 49,006 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Glacier Bancorp by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank’s stock valued at $59,988,000 after buying an additional 52,566 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Glacier Bancorp by 19.9% in the 4th quarter. Fisher Asset Management LLC now owns 984,056 shares of the bank’s stock valued at $49,419,000 after buying an additional 163,061 shares in the last quarter. Finally, Port Capital LLC grew its holdings in Glacier Bancorp by 0.3% in the 3rd quarter. Port Capital LLC now owns 659,913 shares of the bank’s stock valued at $30,158,000 after buying an additional 1,850 shares in the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Price Performance

Shares of GBCI stock opened at $44.32 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a twelve month low of $34.35 and a twelve month high of $60.67. The company has a market cap of $5.03 billion, a P/E ratio of 26.54 and a beta of 0.77. The business has a fifty day simple moving average of $48.51 and a 200 day simple moving average of $49.83.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GBCI. Keefe, Bruyette & Woods upped their target price on Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens upgraded Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Piper Sandler cut their target price on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Raymond James reiterated an “outperform” rating and set a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.50.

About Glacier Bancorp

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.