Wells Fargo & Company MN Raises Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Wells Fargo & Company MN lifted its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Free Report) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,733 shares of the bank's stock after acquiring an additional 7,204 shares during the period. Wells Fargo & Company MN owned approximately 0.15% of Glacier Bancorp worth $8,273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Glacier Bancorp during the 4th quarter valued at about $56,923,000. Madison Investment Advisors LLC bought a new position in shares of Glacier Bancorp during the 4th quarter valued at $47,770,000. JPMorgan Chase & Co. boosted its stake in shares of Glacier Bancorp by 76.0% in the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock worth $28,192,000 after buying an additional 242,414 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Glacier Bancorp in the fourth quarter worth $9,544,000. Finally, Prudential Financial Inc. increased its position in Glacier Bancorp by 1,114.9% during the fourth quarter. Prudential Financial Inc. now owns 191,816 shares of the bank's stock valued at $9,633,000 after acquiring an additional 176,028 shares during the last quarter. Institutional investors own 80.17% of the company's stock.

Glacier Bancorp Price Performance

GBCI stock traded up $1.80 during midday trading on Wednesday, hitting $42.38. The company's stock had a trading volume of 65,493 shares, compared to its average volume of 610,365. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a 12 month low of $34.48 and a 12 month high of $60.67. The company has a 50 day moving average of $44.08 and a two-hundred day moving average of $49.21. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 25.38 and a beta of 0.80.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.11%. The ex-dividend date was Tuesday, April 8th. Glacier Bancorp's dividend payout ratio is presently 79.04%.

Analyst Ratings Changes

Several research analysts have issued reports on GBCI shares. Piper Sandler dropped their target price on Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Raymond James reissued an "outperform" rating and issued a $55.00 price objective (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Finally, Stephens raised shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Glacier Bancorp presently has an average rating of "Hold" and an average price target of $52.80.

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.