Commerce Bank Sells 2,100 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Commerce Bank lessened its position in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 27.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,690 shares of the bank’s stock after selling 2,100 shares during the period. Commerce Bank’s holdings in Glacier Bancorp were worth $286,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GBCI. Barclays PLC lifted its holdings in Glacier Bancorp by 65.6% during the 3rd quarter. Barclays PLC now owns 247,717 shares of the bank’s stock valued at $11,321,000 after purchasing an additional 98,158 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Glacier Bancorp during the 4th quarter worth about $716,000. Raymond James Financial Inc. bought a new stake in shares of Glacier Bancorp during the 4th quarter worth about $9,544,000. JPMorgan Chase & Co. grew its stake in Glacier Bancorp by 76.0% in the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank’s stock valued at $28,192,000 after buying an additional 242,414 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Glacier Bancorp in the 4th quarter valued at about $281,000. 80.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GBCI shares. Piper Sandler reduced their price objective on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Raymond James reissued an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.00.

Glacier Bancorp Trading Up 1.6 %

Shares of NASDAQ:GBCI opened at $42.50 on Friday. The company has a market capitalization of $4.82 billion, a P/E ratio of 25.45 and a beta of 0.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day simple moving average is $43.77 and its 200 day simple moving average is $49.13. Glacier Bancorp, Inc. has a 1 year low of $34.48 and a 1 year high of $60.67.

Glacier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 8th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.11%. 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.