Prudential Financial Inc. Has $9.63 Million Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Prudential Financial Inc. increased its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 1,114.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 191,816 shares of the bank’s stock after purchasing an additional 176,028 shares during the quarter. Prudential Financial Inc. owned approximately 0.17% of Glacier Bancorp worth $9,633,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its stake in shares of Glacier Bancorp by 97.6% in the fourth quarter. Mather Group LLC. now owns 733 shares of the bank’s stock worth $37,000 after buying an additional 362 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new position in Glacier Bancorp during the 4th quarter worth $63,000. Smartleaf Asset Management LLC boosted its holdings in Glacier Bancorp by 17.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank’s stock valued at $144,000 after acquiring an additional 431 shares during the period. GAMMA Investing LLC grew its position in shares of Glacier Bancorp by 20.9% in the fourth quarter. GAMMA Investing LLC now owns 3,042 shares of the bank’s stock valued at $153,000 after purchasing an additional 526 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake 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 worth $177,000 after purchasing an additional 578 shares during the period. Institutional investors own 80.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Stephens upgraded Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler reduced their price target on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Keefe, Bruyette & Woods upped their price objective on shares of Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James reissued an “outperform” rating and set a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $51.50.

Glacier Bancorp Stock Down 2.2 %

Shares of GBCI opened at $43.81 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $47.99 and a two-hundred day moving average price of $49.88. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 26.23 and a beta of 0.77. Glacier Bancorp, Inc. has a 12 month low of $34.35 and a 12 month high of $60.67.

Glacier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 8th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Tuesday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is 79.04%.

Glacier Bancorp Company 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.