Madison Investment Advisors LLC Takes Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Madison Investment Advisors LLC acquired a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) in the 4th quarter, Holdings Channel reports. The firm acquired 951,224 shares of the bank’s stock, valued at approximately $47,770,000.

Other hedge funds also recently modified their holdings of the company. Atria Investments Inc lifted its position in Glacier Bancorp by 17.8% in the third quarter. Atria Investments Inc now owns 14,643 shares of the bank’s stock worth $669,000 after purchasing an additional 2,214 shares during the period. Venturi Wealth Management LLC boosted its stake in Glacier Bancorp by 44.8% during the third quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock worth $137,000 after buying an additional 927 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Glacier Bancorp by 0.4% during the third quarter. Victory Capital Management Inc. now owns 1,534,667 shares of the bank’s stock worth $70,134,000 after buying an additional 6,394 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Glacier Bancorp in the 3rd quarter valued at $252,000. Finally, Royce & Associates LP boosted its stake in shares of Glacier Bancorp by 25.5% in the 3rd quarter. Royce & Associates LP now owns 122,757 shares of the bank’s stock valued at $5,610,000 after purchasing an additional 24,915 shares in the last quarter. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Price Performance

Glacier Bancorp stock opened at $44.23 on Thursday. The firm has a market capitalization of $5.02 billion, a P/E ratio of 26.49 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 business has a 50-day moving average of $49.16 and a 200-day moving average of $49.94. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Piper Sandler cut their price target on 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 lifted their price target on Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Raymond James reissued an “outperform” rating and set a $55.00 price objective (up from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.50.

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.