Glacier Bancorp (NASDAQ:GBCI) Sees Strong Trading Volume

Glacier Bancorp, Inc. (NASDAQ:GBCI) saw unusually-strong trading volume on Wednesday . Approximately 247,560 shares changed hands during mid-day trading, a decline of 67% from the previous session’s volume of 745,652 shares.The stock last traded at $35.23 and had previously closed at $34.87.

Analyst Ratings Changes

Several analysts have recently weighed in on GBCI shares. Raymond James boosted their target price on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, January 5th. StockNews.com raised Glacier Bancorp to a “sell” rating in a report on Tuesday, March 19th. Finally, Truist Financial reduced their target price on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating for the company in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $37.80.

Glacier Bancorp Trading Up 0.8 %

The company has a 50 day simple moving average of $37.79 and a 200 day simple moving average of $36.53. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $3.98 billion, a PE ratio of 17.32 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Friday, January 26th. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.41 by $0.08. The firm had revenue of $197.32 million during the quarter, compared to the consensus estimate of $198.32 million. Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The firm’s revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. Analysts predict that Glacier Bancorp, Inc. will post 1.82 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, April 8th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a yield of 3.76%. Glacier Bancorp’s dividend payout ratio is currently 65.67%.

Institutional Trading of Glacier Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in GBCI. Allworth Financial LP raised its stake in shares of Glacier Bancorp by 409.4% during the 4th quarter. Allworth Financial LP now owns 596 shares of the bank’s stock worth $25,000 after buying an additional 479 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Glacier Bancorp during the 1st quarter worth approximately $25,000. GAMMA Investing LLC purchased a new position in shares of Glacier Bancorp during the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC purchased a new position in shares of Glacier Bancorp during the 4th quarter worth approximately $28,000. Finally, Barclays PLC raised its stake in shares of Glacier Bancorp by 1,498.3% during the 3rd quarter. Barclays PLC now owns 943 shares of the bank’s stock worth $27,000 after buying an additional 884 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

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.