Commerce Bank Sells 2,100 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Commerce Bank cut its stake in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 27.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,690 shares of the bank’s stock after selling 2,100 shares during the period. Commerce Bank’s holdings in Glacier Bancorp were worth $286,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of Glacier Bancorp by 5.8% in the 4th quarter. Capital International Investors now owns 2,092,571 shares of the bank’s stock valued at $105,089,000 after buying an additional 115,620 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Glacier Bancorp by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank’s stock worth $59,988,000 after acquiring an additional 52,566 shares in the last quarter. Norges Bank acquired a new stake in shares of Glacier Bancorp during the fourth quarter worth about $56,923,000. Segall Bryant & Hamill LLC lifted its holdings in shares of Glacier Bancorp by 1.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,062,294 shares of the bank’s stock valued at $53,348,000 after purchasing an additional 12,035 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Glacier Bancorp by 19.9% in the 4th quarter. Fisher Asset Management LLC now owns 984,056 shares of the bank’s stock valued at $49,419,000 after purchasing an additional 163,061 shares during the period. Institutional investors own 80.17% of the company’s stock.

Glacier Bancorp Stock Performance

Shares of GBCI opened at $42.50 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. Glacier Bancorp, Inc. has a 12 month low of $34.48 and a 12 month high of $60.67. The firm has a fifty day simple moving average of $43.77 and a 200 day simple moving average of $49.13. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 25.45 and a beta of 0.80.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Tuesday, April 8th. Glacier Bancorp’s dividend payout ratio is currently 79.04%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GBCI. Raymond James reaffirmed 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. Piper Sandler cut 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. 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 issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.00.

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.