Glacier Bancorp (NASDAQ:GBCI) Sets New 52-Week High at $47.58

Glacier Bancorp, Inc. (NASDAQ:GBCI)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $47.58 and last traded at $47.09, with a volume of 238616 shares changing hands. The stock had previously closed at $44.22.

Analyst Upgrades and Downgrades

GBCI has been the topic of several research analyst reports. Truist Financial boosted their target price on shares of Glacier Bancorp from $38.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Finally, Piper Sandler cut their price objective on Glacier Bancorp from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $43.00.

Glacier Bancorp Price Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50-day moving average is $40.66 and its two-hundred day moving average is $38.68. The company has a market cap of $5.33 billion, a P/E ratio of 26.84 and a beta of 0.80.

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

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.81%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 75.43%.

Insider Activity

In other news, Director Annie M. Goodwin sold 5,619 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total transaction of $250,326.45. Following the transaction, the director now owns 9,402 shares of the company’s stock, valued at approximately $418,859.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Annie M. Goodwin sold 5,619 shares of Glacier Bancorp stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $44.55, for a total transaction of $250,326.45. Following the completion of the transaction, the director now directly owns 9,402 shares of the company’s stock, valued at approximately $418,859.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Don J. Chery sold 1,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was 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 $2,389,999.11. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Glacier Bancorp

A number of large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Glacier Bancorp during the fourth quarter worth $32,617,000. Capital Research Global Investors grew its stake in Glacier Bancorp by 60.3% in the 1st quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock worth $77,539,000 after acquiring an additional 724,089 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Glacier Bancorp by 5,065.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 586,360 shares of the bank’s stock worth $24,228,000 after acquiring an additional 575,008 shares in the last quarter. Capital International Investors increased its position in shares of Glacier Bancorp by 45.1% during the fourth quarter. Capital International Investors now owns 1,822,994 shares of the bank’s stock worth $75,326,000 after acquiring an additional 566,513 shares during the period. Finally, Clifford Capital Partners LLC raised its stake in shares of Glacier Bancorp by 2,389.9% during the first quarter. Clifford Capital Partners LLC now owns 300,109 shares of the bank’s stock valued at $12,088,000 after acquiring an additional 288,056 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

About Glacier Bancorp

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.