Pier Capital LLC Acquires 5,120 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Pier Capital LLC raised its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,992 shares of the bank’s stock after buying an additional 5,120 shares during the period. Pier Capital LLC owned about 0.15% of Glacier Bancorp worth $8,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Madison Investment Advisors LLC purchased a new stake in Glacier Bancorp during the 4th quarter valued at about $47,770,000. Raymond James Financial Inc. purchased a new stake in shares of Glacier Bancorp during the fourth quarter valued at approximately $9,544,000. Prudential Financial Inc. grew its holdings in shares of Glacier Bancorp by 1,114.9% in the fourth quarter. Prudential Financial Inc. now owns 191,816 shares of the bank’s stock worth $9,633,000 after purchasing an additional 176,028 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Glacier Bancorp by 19.9% in the fourth quarter. Fisher Asset Management LLC now owns 984,056 shares of the bank’s stock worth $49,419,000 after purchasing an additional 163,061 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in Glacier Bancorp by 98.0% during the 4th quarter. Royce & Associates LP now owns 243,024 shares of the bank’s stock valued at $12,205,000 after buying an additional 120,267 shares during the last quarter. 80.17% of the stock is owned by institutional investors.

Glacier Bancorp Stock Performance

Glacier Bancorp stock opened at $45.72 on Tuesday. Glacier Bancorp, Inc. has a fifty-two week low of $34.35 and a fifty-two week high of $60.67. The stock’s 50 day simple moving average is $48.46 and its two-hundred day simple moving average is $49.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 27.38 and a beta of 0.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their price target 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 upgraded Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods increased their price objective on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a 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 note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $51.50.

Glacier Bancorp 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.