Townsquare Capital LLC Decreases Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Townsquare Capital LLC reduced its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,193,142 shares of the bank's stock after selling 62,171 shares during the quarter. Glacier Bancorp accounts for approximately 0.7% of Townsquare Capital LLC's investment portfolio, making the stock its 27th biggest holding. Townsquare Capital LLC owned approximately 1.05% of Glacier Bancorp worth $59,920,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GBCI. Mather Group LLC. lifted its position in shares of Glacier Bancorp by 97.6% in the fourth quarter. Mather Group LLC. now owns 733 shares of the bank's stock valued at $37,000 after buying an additional 362 shares during the last quarter. VisionPoint Advisory Group LLC bought a new stake in Glacier Bancorp in the 4th quarter valued at $63,000. Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 431 shares during the last quarter. GAMMA Investing LLC boosted its position in Glacier Bancorp by 20.9% during the fourth quarter. GAMMA Investing LLC now owns 3,042 shares of the bank's stock worth $153,000 after purchasing an additional 526 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of Glacier Bancorp by 19.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,533 shares of the bank's stock valued at $177,000 after purchasing an additional 578 shares during the last quarter. Institutional investors own 80.17% of the company's stock.

Glacier Bancorp Price Performance

NASDAQ GBCI traded up $0.26 during midday trading on Thursday, hitting $39.56. The company had a trading volume of 554,540 shares, compared to its average volume of 620,023. The company has a market capitalization of $4.49 billion, a PE ratio of 23.69 and a beta of 0.80. Glacier Bancorp, Inc. has a twelve month low of $34.35 and a twelve month high of $60.67. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $44.94 and a 200-day moving average price of $49.32.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 8th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, April 8th. Glacier Bancorp's dividend payout ratio (DPR) is 79.04%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Stephens raised shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. Raymond James reissued an "outperform" rating and set a $55.00 price target (up from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Finally, Piper Sandler decreased their price objective on Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Glacier Bancorp presently has a consensus rating of "Hold" and an average target price of $51.50.

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.