Pier Capital LLC Increases Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Pier Capital LLC raised its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 167,992 shares of the bank’s stock after purchasing an additional 5,120 shares during the period. Pier Capital LLC’s holdings in Glacier Bancorp were worth $8,437,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Barclays PLC increased its position 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 buying an additional 98,158 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Glacier Bancorp by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock worth $132,662,000 after purchasing an additional 41,160 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Glacier Bancorp by 75.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,203 shares of the bank’s stock worth $2,111,000 after purchasing an additional 19,814 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Glacier Bancorp in the 4th quarter worth about $716,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Glacier Bancorp during the 4th quarter valued at about $281,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Glacier Bancorp Price Performance

NASDAQ GBCI opened at $45.72 on Tuesday. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 27.38 and a beta of 0.77. 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 $48.46 and its 200-day moving average price is $49.87.

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.