Skylands Capital LLC Decreases Holdings in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Skylands Capital LLC reduced its position in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 40.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,350 shares of the bank’s stock after selling 3,000 shares during the quarter. Skylands Capital LLC’s holdings in Glacier Bancorp were worth $218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GBCI. Geode Capital Management LLC raised its stake in shares of Glacier Bancorp by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,902,373 shares of the bank’s stock worth $132,662,000 after buying an additional 41,160 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Glacier Bancorp by 19.8% in the third quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock worth $77,435,000 after purchasing an additional 280,255 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Glacier Bancorp by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,628,055 shares of the bank’s stock worth $74,402,000 after purchasing an additional 49,006 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Glacier Bancorp by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock valued at $70,134,000 after purchasing an additional 6,394 shares during the period. Finally, Port Capital LLC boosted its holdings in Glacier Bancorp by 0.3% in the 3rd quarter. Port Capital LLC now owns 659,913 shares of the bank’s stock worth $30,158,000 after buying an additional 1,850 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on GBCI shares. Stephens raised Glacier Bancorp from an “equal weight” rating to an “overweight” rating in a report on Friday, February 7th. Piper Sandler reduced their price objective on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Raymond James restated an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. Truist Financial lifted their price target on shares of Glacier Bancorp from $50.00 to $53.00 and gave the company a “hold” rating in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.50.

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI opened at $47.42 on Tuesday. The firm has a fifty day simple moving average of $50.12 and a two-hundred day simple moving average of $49.70. Glacier Bancorp, Inc. has a 52 week low of $34.35 and a 52 week high of $60.67. 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 stock has a market capitalization of $5.38 billion, a P/E ratio of 28.40 and a beta of 0.80.

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.