Raymond James Financial Inc. Purchases New Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Raymond James Financial Inc. purchased a new stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 190,042 shares of the bank’s stock, valued at approximately $9,544,000. Raymond James Financial Inc. owned approximately 0.17% of Glacier Bancorp at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. grew its holdings in Glacier Bancorp by 97.6% in the fourth quarter. Mather Group LLC. now owns 733 shares of the bank’s stock valued at $37,000 after purchasing an additional 362 shares during the period. VisionPoint Advisory Group LLC acquired a new stake in Glacier Bancorp in the fourth quarter valued at approximately $63,000. Smartleaf Asset Management LLC grew its holdings in Glacier Bancorp by 17.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank’s stock valued at $144,000 after purchasing an additional 431 shares during the period. GAMMA Investing LLC grew its holdings in 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 period. Finally, Jones Financial Companies Lllp grew its holdings in Glacier Bancorp by 19.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,533 shares of the bank’s stock valued at $177,000 after purchasing an additional 578 shares during the period. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI opened at $44.32 on Friday. 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 50 day moving average price is $48.51 and its 200-day moving average price is $49.81. The firm has a market capitalization of $5.03 billion, a PE ratio of 26.54 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.

Wall Street Analysts Forecast Growth

Several analysts have commented on GBCI shares. Raymond James reissued an “outperform” rating and issued a $55.00 price objective (up from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Piper Sandler dropped their price objective on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock 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 stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company 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.