Sterling Capital Management LLC Buys 2,899 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Sterling Capital Management LLC grew its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,710 shares of the bank’s stock after acquiring an additional 2,899 shares during the quarter. Sterling Capital Management LLC owned 0.10% of Glacier Bancorp worth $5,861,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on GBCI. Raymond James reiterated an “outperform” rating and set a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a research note on Wednesday, January 15th. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Finally, 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 report on Monday, January 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Glacier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $51.50.

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $38.13 on Friday. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 22.83 and a beta of 0.80. Glacier Bancorp, Inc. has a 1-year low of $34.35 and a 1-year high of $60.67. 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 fifty day moving average price is $45.64 and its 200-day moving average price is $49.47.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.46%. Glacier Bancorp’s dividend 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.