Cooke & Bieler LP Cuts Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Cooke & Bieler LP lessened its holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 24.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,126,771 shares of the bank’s stock after selling 1,017,420 shares during the period. Glacier Bancorp makes up approximately 1.5% of Cooke & Bieler LP’s portfolio, making the stock its 24th biggest holding. Cooke & Bieler LP owned 2.76% of Glacier Bancorp worth $157,026,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GBCI. Arizona State Retirement System lifted its stake in Glacier Bancorp by 0.8% in the fourth quarter. Arizona State Retirement System now owns 32,909 shares of the bank’s stock valued at $1,653,000 after purchasing an additional 259 shares during the last quarter. Financial Advocates Investment Management lifted its stake in Glacier Bancorp by 1.9% in the fourth quarter. Financial Advocates Investment Management now owns 16,267 shares of the bank’s stock valued at $817,000 after purchasing an additional 311 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Glacier Bancorp by 1.6% in the fourth quarter. Pacer Advisors Inc. now owns 22,319 shares of the bank’s stock valued at $1,121,000 after purchasing an additional 350 shares during the last quarter. Mather Group LLC. lifted its stake in 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 purchasing an additional 362 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in Glacier Bancorp by 0.5% in the fourth quarter. Truist Financial Corp now owns 79,073 shares of the bank’s stock valued at $3,971,000 after purchasing an additional 388 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Raymond James reiterated an “outperform” rating and issued a $55.00 price objective (up previously from $52.00) on shares of Glacier Bancorp in a research note on Wednesday, January 15th. Piper Sandler lowered their target price on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Stephens raised shares of Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.50.

Glacier Bancorp Trading Down 1.3 %

Glacier Bancorp stock opened at $45.66 on Tuesday. The stock has a market cap of $5.18 billion, a P/E ratio of 27.34 and a beta of 0.77. Glacier Bancorp, Inc. has a fifty-two week low of $34.35 and a fifty-two week high of $60.67. The firm’s fifty day moving average price is $49.40 and its 200-day moving average price is $49.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81.

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.