Glacier Bancorp (NASDAQ:GBCI) Reaches New 1-Year High – Here’s Why

Glacier Bancorp, Inc. (NASDAQ:GBCI) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $47.80 and last traded at $47.80, with a volume of 158 shares changing hands. The stock had previously closed at $47.23.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Raymond James boosted their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and set a $38.00 price objective on shares of Glacier Bancorp in a research note on Tuesday, August 27th. Finally, Truist Financial raised their target price on Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Glacier Bancorp presently has a consensus rating of “Hold” and an average price target of $44.20.

Glacier Bancorp Stock Performance

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82. The stock’s fifty day simple moving average is $44.92 and its 200 day simple moving average is $40.66. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 28.02 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $306.04 million during the quarter, compared to analysts’ expectations of $204.43 million. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. During the same quarter last year, the firm earned $0.50 earnings per share. As a group, analysts anticipate that Glacier Bancorp, Inc. will post 1.63 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, October 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

Insider Activity

In related news, CAO Don J. Chery sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $45.49, for a total transaction of $45,490.00. Following the completion of the sale, the chief accounting officer now directly owns 52,539 shares in the company, valued at approximately $2,389,999.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $45.49, for a total value of $45,490.00. Following the transaction, the chief accounting officer now directly owns 52,539 shares in the company, valued at approximately $2,389,999.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Annie M. Goodwin sold 5,619 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total value of $250,326.45. Following the completion of the transaction, the director now owns 9,402 shares of the company’s stock, valued at $418,859.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Institutional Trading of Glacier Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Glacier Bancorp in the first quarter valued at $25,000. International Assets Investment Management LLC acquired a new position in Glacier Bancorp in the 2nd quarter valued at about $25,000. Headlands Technologies LLC purchased a new stake in Glacier Bancorp during the first quarter worth about $50,000. GAMMA Investing LLC lifted its position in shares of Glacier Bancorp by 96.9% during the second quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after purchasing an additional 772 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Glacier Bancorp in the second quarter valued at approximately $207,000. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.