KLP Kapitalforvaltning AS Invests $1.16 Million in Glacier Bancorp, Inc. (NASDAQ:GBCI)

KLP Kapitalforvaltning AS acquired a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 23,073 shares of the bank’s stock, valued at approximately $1,159,000.

Other large investors have also recently bought and sold shares of the company. Mather Group LLC. lifted its position in shares of Glacier Bancorp by 97.6% in the fourth 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 bought a new position in shares of Glacier Bancorp in the 4th quarter valued at approximately $63,000. Smartleaf Asset Management LLC lifted its holdings in Glacier Bancorp by 17.7% in 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 last quarter. GAMMA Investing LLC boosted its position in Glacier Bancorp by 20.9% during the fourth quarter. GAMMA Investing LLC now owns 3,042 shares of the bank’s stock worth $153,000 after purchasing an additional 526 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in Glacier Bancorp by 19.6% during the fourth 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 currently owned by institutional investors.

Glacier Bancorp Trading Down 2.2 %

Shares of GBCI opened at $43.81 on Friday. The stock’s 50-day moving average price is $47.99 and its 200 day moving average price is $49.88. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 26.23 and a beta of 0.77. Glacier Bancorp, Inc. has a 12-month low of $34.35 and a 12-month high of $60.67.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 8th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.01%. Glacier Bancorp’s payout ratio is 79.04%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stephens upgraded shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler cut their target price on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised their price target 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. Finally, Raymond James reissued an “outperform” rating and set a $55.00 price objective (up previously from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.