Jain Global LLC Buys 86,271 Shares of Glacier Bancorp, Inc. $GBCI

Jain Global LLC boosted its position in shares of Glacier Bancorp, Inc. (NYSE:GBCI) by 81.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 192,569 shares of the company’s stock after purchasing an additional 86,271 shares during the quarter. Jain Global LLC’s holdings in Glacier Bancorp were worth $9,372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in Glacier Bancorp by 218.8% in the second quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock valued at $31,000 after acquiring an additional 490 shares during the last quarter. Mather Group LLC. acquired a new position in Glacier Bancorp during the third quarter valued at approximately $35,000. Farther Finance Advisors LLC increased its position in shares of Glacier Bancorp by 20.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,609 shares of the company’s stock valued at $78,000 after buying an additional 273 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Glacier Bancorp by 219.1% in the third quarter. Hantz Financial Services Inc. now owns 1,618 shares of the company’s stock worth $79,000 after acquiring an additional 1,111 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Glacier Bancorp by 25.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,979 shares of the company’s stock valued at $147,000 after buying an additional 605 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on GBCI shares. Janney Montgomery Scott initiated coverage on Glacier Bancorp in a report on Tuesday, February 10th. They set a “neutral” rating and a $55.00 target price on the stock. Piper Sandler set a $59.00 target price on shares of Glacier Bancorp and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Stephens set a $58.00 price objective on Glacier Bancorp in a report on Monday, January 26th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating on shares of Glacier Bancorp in a report on Monday, January 26th. Finally, Brean Capital cut shares of Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.67.

Glacier Bancorp Stock Down 0.3%

Shares of NYSE GBCI opened at $43.37 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $48.29 and its 200 day simple moving average is $46.28. The firm has a market cap of $5.64 billion, a PE ratio of 21.79 and a beta of 0.75. Glacier Bancorp, Inc. has a 12-month low of $36.76 and a 12-month high of $53.99.

Glacier Bancorp (NYSE:GBCI) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13). Glacier Bancorp had a net margin of 16.63% and a return on equity of 6.68%. During the same quarter in the prior year, the business posted $0.54 EPS.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.