Cibc World Markets Corp Purchases New Stake in Glacier Bancorp, Inc. (NASDAQ:GBCI)

Cibc World Markets Corp purchased a new stake in Glacier Bancorp, Inc. (NASDAQ:GBCI) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,662 shares of the bank’s stock, valued at approximately $535,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mather Group LLC. raised its stake in Glacier Bancorp by 97.6% in the fourth quarter. Mather Group LLC. now owns 733 shares of the bank’s stock valued at $37,000 after purchasing an additional 362 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new position in Glacier Bancorp in the fourth quarter valued at about $63,000. Smartleaf Asset Management LLC raised its stake in Glacier Bancorp by 17.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,869 shares of the bank’s stock valued at $144,000 after purchasing an additional 431 shares in the last quarter. GAMMA Investing LLC raised its stake in Glacier Bancorp by 20.9% in the fourth quarter. GAMMA Investing LLC now owns 3,042 shares of the bank’s stock valued at $153,000 after purchasing an additional 526 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Glacier Bancorp by 19.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,533 shares of the bank’s stock valued at $177,000 after purchasing an additional 578 shares in 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 commented on GBCI shares. Raymond James reissued an “outperform” rating and set a $55.00 target price (up previously from $52.00) on shares of Glacier Bancorp in a research note on Wednesday, January 15th. Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler lowered their target price on Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their target price on Glacier Bancorp from $50.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.50.

Glacier Bancorp Stock Performance

NASDAQ:GBCI opened at $44.32 on Friday. The stock has a market cap of $5.03 billion, a P/E ratio of 26.54 and a beta of 0.77. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average is $48.51 and its 200-day moving average is $49.83. Glacier Bancorp, Inc. has a 1-year low of $34.35 and a 1-year high of $60.67.

Glacier Bancorp Company 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.