Sei Investments Co. Reduces Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Sei Investments Co. lowered its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 402,428 shares of the bank's stock after selling 86,501 shares during the quarter. Sei Investments Co. owned 0.35% of Glacier Bancorp worth $20,210,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GBCI. Mather Group LLC. increased its stake in shares of Glacier Bancorp by 97.6% during the fourth quarter. Mather Group LLC. now owns 733 shares of the bank's stock worth $37,000 after acquiring an additional 362 shares during the period. VisionPoint Advisory Group LLC acquired a new position in Glacier Bancorp during the 4th quarter worth approximately $63,000. Smartleaf Asset Management LLC increased its position in Glacier Bancorp by 17.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank's stock worth $144,000 after purchasing an additional 431 shares during the period. GAMMA Investing LLC raised its stake in shares of Glacier Bancorp by 20.9% during the 4th quarter. GAMMA Investing LLC now owns 3,042 shares of the bank's stock worth $153,000 after buying an additional 526 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Glacier Bancorp by 19.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,533 shares of the bank's stock valued at $177,000 after buying an additional 578 shares during the period. Institutional investors and hedge funds own 80.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GBCI shares. Raymond James reaffirmed an "outperform" rating and set a $55.00 price objective (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Stephens raised shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods raised their price objective on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, Piper Sandler decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Glacier Bancorp currently has a consensus rating of "Hold" and an average target price of $51.50.

Glacier Bancorp Price Performance

Shares of GBCI stock traded down $0.06 during mid-day trading on Tuesday, reaching $44.17. The stock had a trading volume of 457,392 shares, compared to its average volume of 608,091. Glacier Bancorp, Inc. has a 12-month low of $34.35 and a 12-month high of $60.67. 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 business has a 50-day simple moving average of $47.69 and a 200 day simple moving average of $49.94. The company has a market cap of $5.01 billion, a P/E ratio of 26.45 and a beta of 0.77.

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 given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Tuesday, April 8th. Glacier Bancorp's payout ratio is currently 79.04%.

Glacier Bancorp Company 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.