LPL Financial LLC Boosts Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

LPL Financial LLC lifted its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 52.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,045 shares of the bank's stock after purchasing an additional 38,294 shares during the quarter. LPL Financial LLC owned about 0.10% of Glacier Bancorp worth $5,577,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GBCI. Verition Fund Management LLC acquired a new stake in Glacier Bancorp during the 3rd quarter worth approximately $457,000. HighTower Advisors LLC increased its position in shares of Glacier Bancorp by 9.4% during the third quarter. HighTower Advisors LLC now owns 5,882 shares of the bank's stock worth $277,000 after acquiring an additional 507 shares during the period. Stifel Financial Corp raised its stake in shares of Glacier Bancorp by 0.3% in the third quarter. Stifel Financial Corp now owns 203,566 shares of the bank's stock valued at $9,303,000 after acquiring an additional 582 shares in the last quarter. Wolverine Trading LLC purchased a new position in Glacier Bancorp in the third quarter valued at $205,000. Finally, Barclays PLC grew its stake in Glacier Bancorp by 65.6% during the 3rd quarter. Barclays PLC now owns 247,717 shares of the bank's stock worth $11,321,000 after purchasing an additional 98,158 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company's stock.

Glacier Bancorp Stock Down 1.1 %

GBCI traded down $0.42 on Friday, reaching $38.13. The company's stock had a trading volume of 570,357 shares, compared to its average volume of 621,867. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 22.83 and a beta of 0.80. 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 quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $45.64 and a two-hundred day moving average of $49.47.

Glacier Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

GBCI has been the topic of a number of analyst reports. Stephens raised Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. Raymond James reaffirmed an "outperform" rating and issued a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Finally, Piper Sandler lowered their price target 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. One investment 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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.