Envestnet Asset Management Inc. Decreases Stock Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Envestnet Asset Management Inc. decreased its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,457 shares of the bank’s stock after selling 8,995 shares during the period. Envestnet Asset Management Inc. owned about 0.16% of Glacier Bancorp worth $9,163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in shares of Glacier Bancorp by 9.4% during the 3rd quarter. HighTower Advisors LLC now owns 5,882 shares of the bank’s stock valued at $277,000 after purchasing an additional 507 shares during the period. Barclays PLC increased its holdings in Glacier Bancorp by 65.6% during the third quarter. Barclays PLC now owns 247,717 shares of the bank’s stock valued at $11,321,000 after buying an additional 98,158 shares during the last quarter. Synovus Financial Corp raised its position in Glacier Bancorp by 79.2% in the third quarter. Synovus Financial Corp now owns 32,484 shares of the bank’s stock worth $1,485,000 after acquiring an additional 14,359 shares during the period. GAMMA Investing LLC boosted 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 acquiring an additional 526 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new stake in shares of Glacier Bancorp during the 4th quarter valued at $273,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Price Performance

Shares of Glacier Bancorp stock opened at $39.56 on Friday. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 23.69 and a beta of 0.80. 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 stock’s 50-day simple moving average is $44.49 and its 200-day simple moving average is $49.28. Glacier Bancorp, Inc. has a 52 week low of $34.48 and a 52 week high of $60.67.

Glacier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.32 annualized dividend and a yield of 3.34%. Glacier Bancorp’s payout ratio is 79.04%.

Analyst Upgrades and Downgrades

GBCI has been the topic of several analyst reports. Piper Sandler lowered their target price on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Raymond James reiterated 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Glacier Bancorp 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.