Glacier Bancorp, Inc. (NASDAQ:GBCI) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 76.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 561,370 shares of the bank’s stock after purchasing an additional 242,414 shares during the quarter. JPMorgan Chase & Co. owned 0.50% of Glacier Bancorp worth $28,192,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of GBCI. Geode Capital Management LLC raised its stake in shares of Glacier Bancorp by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock valued at $132,662,000 after acquiring an additional 41,160 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Glacier Bancorp by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank’s stock valued at $59,988,000 after buying an additional 52,566 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Glacier Bancorp by 1.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,062,294 shares of the bank’s stock valued at $53,348,000 after buying an additional 12,035 shares during the period. Fisher Asset Management LLC lifted 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 in the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in Glacier Bancorp in the fourth quarter valued at approximately $47,770,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Shares of Glacier Bancorp stock opened at $37.73 on Wednesday. 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. The firm’s 50-day simple moving average is $46.40 and its 200-day simple moving average is $49.65. The firm has a market cap of $4.28 billion, a PE ratio of 22.59 and a beta of 0.80.

Glacier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Tuesday, April 8th. Glacier Bancorp’s dividend payout ratio is presently 79.04%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GBCI. Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Piper Sandler decreased their price objective 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. Finally, Raymond James reaffirmed an “outperform” rating and set a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.