Avantax Advisory Services Inc. Buys New Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Avantax Advisory Services Inc. purchased a new position in Glacier Bancorp, Inc. (NASDAQ:GBCI) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 4,428 shares of the bank’s stock, valued at approximately $222,000.

A number of other large investors have also made changes to their positions in GBCI. Mather Group LLC. grew its stake in Glacier Bancorp by 97.6% during the 4th quarter. Mather Group LLC. now owns 733 shares of the bank’s stock worth $37,000 after buying an additional 362 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new stake in Glacier Bancorp in the fourth quarter worth about $63,000. Smartleaf Asset Management LLC grew its stake in shares of Glacier Bancorp by 17.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank’s stock worth $144,000 after acquiring an additional 431 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Glacier Bancorp by 20.9% during the fourth quarter. GAMMA Investing LLC now owns 3,042 shares of the bank’s stock valued at $153,000 after acquiring an additional 526 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position 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 purchasing an additional 578 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Trading Up 0.1 %

NASDAQ GBCI opened at $45.29 on Thursday. The company has a fifty day moving average of $48.24 and a 200 day moving average of $49.86. The company has a market capitalization of $5.14 billion, a PE ratio of 27.12 and a beta of 0.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders 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 dividend yield of 2.91%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 79.04%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GBCI. Raymond James reissued an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler reduced their target price 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. Finally, Stephens raised 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 issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Glacier Bancorp currently has a consensus rating of “Hold” and a consensus target price of $51.50.

Glacier Bancorp 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.