Envestnet Portfolio Solutions Inc. Sells 551 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Envestnet Portfolio Solutions Inc. reduced its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 10.8% in the 4th quarter, HoldingsChannel reports. The firm owned 4,531 shares of the bank’s stock after selling 551 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Glacier Bancorp were worth $228,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Arizona State Retirement System raised its position in shares of Glacier Bancorp by 0.8% during the fourth quarter. Arizona State Retirement System now owns 32,909 shares of the bank’s stock worth $1,653,000 after purchasing an additional 259 shares during the period. Financial Advocates Investment Management lifted its stake in Glacier Bancorp by 1.9% in the fourth quarter. Financial Advocates Investment Management now owns 16,267 shares of the bank’s stock valued at $817,000 after buying an additional 311 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Glacier Bancorp by 1.6% in the fourth quarter. Pacer Advisors Inc. now owns 22,319 shares of the bank’s stock valued at $1,121,000 after buying an additional 350 shares during the period. Mather Group LLC. boosted its holdings in shares of Glacier Bancorp by 97.6% in the fourth quarter. Mather Group LLC. now owns 733 shares of the bank’s stock valued at $37,000 after buying an additional 362 shares during the period. Finally, Truist Financial Corp increased its position in shares of Glacier Bancorp by 0.5% during the fourth quarter. Truist Financial Corp now owns 79,073 shares of the bank’s stock worth $3,971,000 after acquiring an additional 388 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Trading Down 2.2 %

NASDAQ GBCI opened at $43.81 on Friday. Glacier Bancorp, Inc. has a 12 month low of $34.35 and a 12 month high of $60.67. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $47.99 and a 200-day moving average of $49.83. The company has a market cap of $4.97 billion, a PE ratio of 26.23 and a beta of 0.77.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is currently 79.04%.

Analyst Ratings Changes

A number of equities analysts have issued reports on GBCI shares. Stephens upgraded Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a 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 on the stock in a research note on Monday, January 27th. Raymond James reaffirmed an “outperform” rating and set a $55.00 price target (up previously from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and an average price target of $51.50.

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.