Synovus Financial Corp Sells 13,822 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Synovus Financial Corp trimmed its position in Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 42.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,662 shares of the bank's stock after selling 13,822 shares during the period. Synovus Financial Corp's holdings in Glacier Bancorp were worth $937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Glacier Bancorp by 65.6% in the third quarter. Barclays PLC now owns 247,717 shares of the bank's stock valued at $11,321,000 after acquiring an additional 98,158 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Glacier Bancorp in the 4th quarter valued at $716,000. Raymond James Financial Inc. purchased a new stake in shares of Glacier Bancorp during the 4th quarter valued at $9,544,000. JPMorgan Chase & Co. raised its stake in shares of Glacier Bancorp by 76.0% during the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock worth $28,192,000 after purchasing an additional 242,414 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Glacier Bancorp during the 4th quarter worth $281,000. Hedge funds and other institutional investors own 80.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on GBCI shares. Raymond James reaffirmed 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. Piper Sandler dropped their price objective on Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Finally, Stephens raised Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $51.50.

Glacier Bancorp Stock Performance

Glacier Bancorp stock traded up $1.32 during mid-day trading on Tuesday, reaching $40.61. The company's stock had a trading volume of 585,061 shares, compared to its average volume of 612,515. The firm's fifty day moving average price is $44.08 and its two-hundred day moving average price is $49.21. 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 12-month low of $34.48 and a 12-month high of $60.67. The company has a market capitalization of $4.61 billion, a P/E ratio of 24.32 and a beta of 0.80.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Tuesday, April 8th. Glacier Bancorp's dividend payout ratio (DPR) is presently 79.04%.

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.