California Public Employees Retirement System Cuts Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

California Public Employees Retirement System cut its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.6% in the fourth quarter, Holdings Channel reports. The fund owned 188,796 shares of the bank’s stock after selling 7,028 shares during the quarter. California Public Employees Retirement System’s holdings in Glacier Bancorp were worth $9,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. raised its holdings in shares of Glacier Bancorp by 97.6% in the 4th quarter. Mather Group LLC. now owns 733 shares of the bank’s stock valued at $37,000 after purchasing an additional 362 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in Glacier Bancorp during the fourth quarter valued at approximately $63,000. Smartleaf Asset Management LLC raised its stake in Glacier Bancorp by 17.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank’s stock worth $144,000 after buying an additional 431 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Glacier Bancorp by 20.9% during the fourth quarter. GAMMA Investing LLC now owns 3,042 shares of the bank’s stock worth $153,000 after buying an additional 526 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Glacier Bancorp by 19.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,533 shares of the bank’s stock valued at $177,000 after acquiring an additional 578 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on GBCI. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Piper Sandler reduced their target price on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $55.00 price objective (up previously 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 given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.50.

Glacier Bancorp Price Performance

Shares of GBCI stock opened at $38.47 on Monday. Glacier Bancorp, Inc. has a fifty-two week low of $34.35 and a fifty-two week high of $60.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 23.04 and a beta of 0.80. The stock’s 50-day simple moving average is $47.09 and its 200-day simple moving average is $49.85.

Glacier Bancorp Announces Dividend

The business also recently announced 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 3.43%. The ex-dividend date is Tuesday, April 8th. Glacier Bancorp’s dividend payout ratio is presently 79.04%.

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.