Kennedy Capital Management LLC Boosts Stake in Glacier Bancorp, Inc. $GBCI

Kennedy Capital Management LLC increased its position in shares of Glacier Bancorp, Inc. (NYSE:GBCI) by 83.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 431,647 shares of the company’s stock after buying an additional 196,599 shares during the quarter. Kennedy Capital Management LLC’s holdings in Glacier Bancorp were worth $21,008,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake 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 buying an additional 490 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Glacier Bancorp during the third quarter worth approximately $35,000. Farther Finance Advisors LLC increased its holdings 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 acquiring an additional 273 shares during the period. Hantz Financial Services Inc. raised its position in Glacier Bancorp by 219.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,618 shares of the company’s stock valued at $79,000 after purchasing an additional 1,111 shares during 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 purchasing an additional 605 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GBCI shares. Keefe, Bruyette & Woods reissued an “underperform” rating on shares of Glacier Bancorp in a research report on Monday, January 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Glacier Bancorp in a research note on Monday, December 29th. Piper Sandler set a $59.00 price target on Glacier Bancorp and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Wall Street Zen raised Glacier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Brean Capital cut Glacier Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.67.

Glacier Bancorp Price Performance

GBCI stock traded down $0.24 on Friday, reaching $43.80. 53,097 shares of the company’s stock were exchanged, compared to its average volume of 1,106,246. The stock has a fifty day moving average of $48.37 and a 200-day moving average of $46.38. The firm has a market cap of $5.69 billion, a PE ratio of 22.04 and a beta of 0.75. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. Glacier Bancorp, Inc. has a twelve month low of $36.76 and a twelve month high of $53.99.

Glacier Bancorp (NYSE:GBCI) last released its 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 period last year, the company posted $0.54 earnings per share.

Glacier Bancorp Profile

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.