Wells Fargo & Company MN Increases Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Wells Fargo & Company MN increased its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164,733 shares of the bank’s stock after purchasing an additional 7,204 shares during the quarter. Wells Fargo & Company MN owned 0.15% of Glacier Bancorp worth $8,273,000 as of its most recent filing with the Securities & Exchange Commission.

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

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI opened at $39.56 on Friday. The firm has a fifty day simple moving average of $44.72 and a two-hundred day simple moving average of $49.27. Glacier Bancorp, Inc. has a 52 week low of $34.35 and a 52 week high of $60.67. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $4.49 billion, a P/E ratio of 23.69 and a beta of 0.80.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, April 8th. Glacier Bancorp’s dividend payout ratio is presently 79.04%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Piper Sandler lowered their price target 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. Raymond James restated an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Finally, Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.