Prudential Financial Inc. increased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 1,114.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 191,816 shares of the bank's stock after purchasing an additional 176,028 shares during the period. Prudential Financial Inc. owned approximately 0.17% of Glacier Bancorp worth $9,633,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Madison Investment Advisors LLC acquired a new position in shares of Glacier Bancorp during the fourth quarter worth about $47,770,000. Raymond James Financial Inc. acquired a new position in Glacier Bancorp during the 4th quarter worth approximately $9,544,000. Fisher Asset Management LLC boosted its position in Glacier Bancorp by 19.9% during the 4th 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 last quarter. Pier Capital LLC bought a new position in shares of Glacier Bancorp during the 3rd quarter worth approximately $7,443,000. Finally, Royce & Associates LP raised its holdings in shares of Glacier Bancorp by 98.0% in the fourth quarter. Royce & Associates LP now owns 243,024 shares of the bank's stock valued at $12,205,000 after purchasing an additional 120,267 shares during the last quarter. Institutional investors own 80.17% of the company's stock.
Glacier Bancorp Stock Performance
Shares of Glacier Bancorp stock traded down $3.86 during trading on Thursday, hitting $40.65. 865,236 shares of the stock were exchanged, compared to its average volume of 609,703. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $47.33 and a 200-day moving average price of $49.84. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 24.34 and a beta of 0.77. 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 disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.25%. Glacier Bancorp's dividend payout ratio is 79.04%.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Stephens upgraded shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Raymond James restated an "outperform" rating and set a $55.00 price objective (up from $52.00) on shares of Glacier Bancorp in a research note on Wednesday, January 15th. Piper Sandler decreased their price objective on Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lifted their target price on Glacier Bancorp from $50.00 to $62.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $51.50.
Get Our Latest Stock Report on GBCI
Glacier Bancorp Company Profile
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Free Report)
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.
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