Massachusetts Financial Services Co. MA Cuts Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Massachusetts Financial Services Co. MA lowered its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 11.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 964,707 shares of the bank’s stock after selling 130,422 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Glacier Bancorp were worth $48,448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mather Group LLC. raised its position in 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 last quarter. VisionPoint Advisory Group LLC acquired a new stake in Glacier Bancorp during the 4th quarter valued at $63,000. Smartleaf Asset Management LLC increased its position in 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 buying an additional 431 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Glacier Bancorp by 20.9% in 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 boosted its stake in shares of 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 acquiring an additional 578 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GBCI shares. Raymond James reissued an “outperform” rating and issued a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a research note 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. Finally, Piper Sandler decreased their target price on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.50.

Glacier Bancorp Stock Performance

NASDAQ GBCI opened at $38.47 on Friday. The business’s 50-day simple moving average is $47.09 and its 200-day simple moving average is $49.83. The firm has a market capitalization of $4.37 billion, a P/E ratio of 23.04 and a beta of 0.80. Glacier Bancorp, Inc. has a 1-year low of $34.35 and a 1-year high of $60.67. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend 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.