Norges Bank Invests $56.92 Million in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Norges Bank acquired a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,133,469 shares of the bank's stock, valued at approximately $56,923,000. Norges Bank owned 1.00% of Glacier Bancorp as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Glacier Bancorp by 76.0% in the fourth quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock valued at $28,192,000 after purchasing an additional 242,414 shares during the last quarter. Financial Engines Advisors L.L.C. purchased a new position in Glacier Bancorp in the 4th quarter worth $339,000. Pier Capital LLC grew its holdings in shares of Glacier Bancorp by 3.1% in the fourth quarter. Pier Capital LLC now owns 167,992 shares of the bank's stock worth $8,437,000 after purchasing an additional 5,120 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in Glacier Bancorp by 1.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,062,294 shares of the bank's stock worth $53,348,000 after buying an additional 12,035 shares during the period. Finally, Prudential Financial Inc. raised its stake in Glacier Bancorp by 1,114.9% in the fourth quarter. Prudential Financial Inc. now owns 191,816 shares of the bank's stock worth $9,633,000 after buying an additional 176,028 shares in the last quarter. Institutional investors own 80.17% of the company's stock.

Analyst Ratings Changes

GBCI has been the topic of a number of recent analyst reports. Piper Sandler cut 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. 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 note on Wednesday, January 15th. Finally, Stephens upgraded Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Glacier Bancorp has a consensus rating of "Hold" and an average price target of $51.50.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI traded down $1.26 during trading on Tuesday, reaching $37.73. The stock had a trading volume of 815,102 shares, compared to its average volume of 620,928. The business has a fifty day moving average price of $46.40 and a 200-day moving average price of $49.65. The stock has a market cap of $4.28 billion, a PE ratio of 22.59 and a beta of 0.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp, Inc. has a 1-year low of $34.35 and a 1-year high of $60.67.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.50%. Glacier Bancorp's dividend payout ratio (DPR) is 79.04%.

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.