Franklin Resources Inc. Invests $343,000 in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Franklin Resources Inc. bought a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,836 shares of the bank's stock, valued at approximately $343,000.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. boosted its holdings in Glacier Bancorp by 97.6% during the 4th quarter. Mather Group LLC. now owns 733 shares of the bank's stock valued at $37,000 after acquiring an additional 362 shares during the period. VisionPoint Advisory Group LLC bought a new position in Glacier Bancorp during the 4th quarter valued at about $63,000. Smartleaf Asset Management LLC lifted its stake in Glacier Bancorp by 17.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank's stock valued at $144,000 after acquiring an additional 431 shares during the period. GAMMA Investing LLC lifted its stake in Glacier Bancorp by 20.9% during the 4th quarter. GAMMA Investing LLC now owns 3,042 shares of the bank's stock valued at $153,000 after acquiring an additional 526 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Glacier Bancorp by 19.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,533 shares of the bank's stock worth $177,000 after acquiring an additional 578 shares in the last quarter. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Stock Down 0.9 %

Glacier Bancorp stock traded down $0.36 during mid-day trading on Thursday, hitting $41.46. The company had a trading volume of 83,542 shares, compared to its average volume of 610,714. 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 has a market cap of $4.71 billion, a price-to-earnings ratio of 24.79 and a beta of 0.80. The business has a fifty day moving average of $43.92 and a 200 day moving average of $49.16. Glacier Bancorp, Inc. has a 1 year low of $34.48 and a 1 year high of $60.67.

Glacier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors 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 dividend on an annualized basis and a yield of 3.18%. Glacier Bancorp's payout ratio is 79.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GBCI shares. Piper Sandler dropped their price objective on shares of Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Raymond James reaffirmed an "outperform" rating and issued a $55.00 price target (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Finally, Stephens upgraded shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.00.

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.