Kennedy Capital Management LLC Has $11.88 Million Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Kennedy Capital Management LLC lowered its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 236,611 shares of the bank's stock after selling 14,044 shares during the quarter. Kennedy Capital Management LLC owned 0.21% of Glacier Bancorp worth $11,883,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GBCI. Bank of Montreal Can lifted its position in shares of Glacier Bancorp by 3.5% during the 4th quarter. Bank of Montreal Can now owns 90,248 shares of the bank's stock worth $4,532,000 after buying an additional 3,092 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Glacier Bancorp in the 4th quarter valued at $200,000. Wells Fargo & Company MN grew its holdings in shares of Glacier Bancorp by 4.6% in the 4th quarter. Wells Fargo & Company MN now owns 164,733 shares of the bank's stock worth $8,273,000 after purchasing an additional 7,204 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Glacier Bancorp during the 4th quarter worth about $2,069,000. Finally, Franklin Resources Inc. bought a new position in Glacier Bancorp during the 4th quarter valued at about $343,000. Institutional investors and hedge funds own 80.17% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Stephens upgraded 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 issued a $55.00 price objective (up previously from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $51.50.

Glacier Bancorp Trading Up 2.3 %

GBCI stock traded up $0.89 during trading on Tuesday, hitting $39.47. The company had a trading volume of 131,310 shares, compared to its average volume of 620,290. The firm has a 50-day moving average price of $45.40 and a 200-day moving average price of $49.46. Glacier Bancorp, Inc. has a 12 month low of $34.35 and a 12 month high of $60.67. 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 $4.48 billion, a price-to-earnings ratio of 23.63 and a beta of 0.80.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, April 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.34%. Glacier Bancorp's payout ratio is currently 79.04%.

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.