Amalgamated Bank Grows Stock Position in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Amalgamated Bank boosted its holdings in shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,549 shares of the bank’s stock after buying an additional 1,331 shares during the quarter. Amalgamated Bank’s holdings in Glacier Bancorp were worth $2,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of Glacier Bancorp by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,194,495 shares of the bank’s stock valued at $59,988,000 after acquiring an additional 52,566 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Glacier Bancorp in the fourth quarter worth about $281,000. VisionPoint Advisory Group LLC bought a new position in shares of Glacier Bancorp in the fourth quarter worth about $63,000. Allied Investment Advisors LLC lifted its position in shares of Glacier Bancorp by 3.4% during the 4th quarter. Allied Investment Advisors LLC now owns 15,331 shares of the bank’s stock valued at $770,000 after buying an additional 500 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Glacier Bancorp by 45.7% during the 4th quarter. Venturi Wealth Management LLC now owns 4,365 shares of the bank’s stock valued at $219,000 after acquiring an additional 1,370 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.

Glacier Bancorp Stock Performance

Shares of NASDAQ GBCI opened at $48.80 on Friday. The company has a market cap of $5.53 billion, a P/E ratio of 29.22 and a beta of 0.80. Glacier Bancorp, Inc. has a 52-week low of $34.35 and a 52-week high of $60.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s fifty day moving average is $49.93 and its two-hundred day moving average is $49.83.

Wall Street Analysts Forecast Growth

GBCI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler dropped their target price on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Stephens upgraded Glacier Bancorp from an “equal weight” rating to an “overweight” rating in a research note on Friday, February 7th. Finally, Raymond James restated an “outperform” rating and issued a $55.00 price objective (up from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.50.

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.