JPMorgan Chase & Co. Has $28.19 Million Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

JPMorgan Chase & Co. raised its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 76.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 561,370 shares of the bank's stock after buying an additional 242,414 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.50% of Glacier Bancorp worth $28,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Madison Investment Advisors LLC acquired a new position in Glacier Bancorp during the 4th quarter worth approximately $47,770,000. Raymond James Financial Inc. purchased a new stake in shares of Glacier Bancorp in the fourth quarter valued at approximately $9,544,000. Prudential Financial Inc. grew its holdings in Glacier Bancorp by 1,114.9% during the fourth quarter. Prudential Financial Inc. now owns 191,816 shares of the bank's stock worth $9,633,000 after acquiring an additional 176,028 shares during the period. Fisher Asset Management LLC grew its holdings in Glacier Bancorp by 19.9% during the fourth quarter. Fisher Asset Management LLC now owns 984,056 shares of the bank's stock worth $49,419,000 after acquiring an additional 163,061 shares during the period. Finally, Royce & Associates LP raised its position in Glacier Bancorp by 98.0% in the fourth quarter. Royce & Associates LP now owns 243,024 shares of the bank's stock worth $12,205,000 after acquiring an additional 120,267 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Glacier Bancorp Stock Down 1.1 %

Shares of GBCI traded down $0.42 during mid-day trading on Friday, reaching $38.13. 570,357 shares of the stock traded hands, compared to its average volume of 622,596. 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 fifty day simple moving average of $45.64 and a 200 day simple moving average of $49.50. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 22.83 and a beta of 0.80. Glacier Bancorp, Inc. has a 12-month low of $34.35 and a 12-month high of $60.67.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 8th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.46%. Glacier Bancorp's dividend payout ratio is presently 79.04%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GBCI shares. Piper Sandler reduced their price target on shares of Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Stephens upgraded Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Finally, Raymond James reissued an "outperform" rating and issued a $55.00 price target (up from $52.00) on shares of Glacier Bancorp in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.