KLP Kapitalforvaltning AS Takes Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

KLP Kapitalforvaltning AS purchased a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 23,073 shares of the bank's stock, valued at approximately $1,159,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GBCI. Geode Capital Management LLC lifted its holdings in Glacier Bancorp by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank's stock valued at $132,662,000 after acquiring an additional 41,160 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Glacier Bancorp by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank's stock worth $59,988,000 after buying an additional 52,566 shares during the last quarter. Fisher Asset Management LLC grew its position in Glacier Bancorp by 19.9% during the fourth quarter. Fisher Asset Management LLC now owns 984,056 shares of the bank's stock valued at $49,419,000 after buying an additional 163,061 shares during the period. Madison Investment Advisors LLC bought a new stake in Glacier Bancorp during the fourth quarter valued at approximately $47,770,000. Finally, Port Capital LLC increased its holdings in Glacier Bancorp by 0.3% during the third quarter. Port Capital LLC now owns 659,913 shares of the bank's stock valued at $30,158,000 after buying an additional 1,850 shares during the last quarter. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Glacier Bancorp Price Performance

NASDAQ GBCI traded down $3.86 during trading hours on Thursday, reaching $40.65. The company's stock had a trading volume of 865,236 shares, compared to its average volume of 609,703. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a 1 year low of $34.35 and a 1 year high of $60.67. The firm's 50-day moving average price is $47.33 and its 200-day moving average price is $49.84. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 24.34 and a beta of 0.77.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 8th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, April 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.25%. Glacier Bancorp's dividend payout ratio is 79.04%.

Analysts Set New Price Targets

GBCI has been the subject of several analyst reports. Piper Sandler reduced their price objective on Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Stephens raised Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods raised their price objective on Glacier Bancorp from $50.00 to $62.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, Raymond James reissued an "outperform" rating and issued a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. One 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 stock. According to data from MarketBeat, Glacier Bancorp has an average rating of "Hold" and an average price target 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.