Bank of New York Mellon Corp Buys 52,566 Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI)

Bank of New York Mellon Corp raised its stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,194,495 shares of the bank’s stock after acquiring an additional 52,566 shares during the period. Bank of New York Mellon Corp’s holdings in Glacier Bancorp were worth $59,988,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new stake in Glacier Bancorp in the 4th quarter valued at $281,000. VisionPoint Advisory Group LLC bought a new stake in Glacier Bancorp in the 4th quarter valued at $63,000. Allied Investment Advisors LLC increased its holdings in Glacier Bancorp by 3.4% in the 4th quarter. Allied Investment Advisors LLC now owns 15,331 shares of the bank’s stock valued at $770,000 after acquiring an additional 500 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Glacier Bancorp by 45.7% in the 4th quarter. Venturi Wealth Management LLC now owns 4,365 shares of the bank’s stock worth $219,000 after buying an additional 1,370 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Glacier Bancorp by 0.5% in the 4th quarter. Truist Financial Corp now owns 79,073 shares of the bank’s stock worth $3,971,000 after buying an additional 388 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Raymond James restated an “outperform” rating and issued a $55.00 target price (up from $52.00) on shares of Glacier Bancorp in a report on Wednesday, January 15th. Piper Sandler reduced their target price 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. Keefe, Bruyette & Woods boosted their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Stephens upgraded shares of Glacier Bancorp from an “equal weight” rating to an “overweight” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and an average price target of $51.50.

Glacier Bancorp Stock Performance

Shares of NASDAQ:GBCI opened at $46.20 on Wednesday. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 27.66 and a beta of 0.80. Glacier Bancorp, Inc. has a 12 month low of $34.35 and a 12 month high of $60.67. The firm’s 50-day moving average is $49.78 and its 200 day moving average is $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.

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.