Glacier Bancorp (NYSE:GBCI) Hits New 52-Week High – Should You Buy?

Glacier Bancorp, Inc. (NYSE:GBCI) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $54.04 and last traded at $54.15, with a volume of 140898 shares. The stock had previously closed at $52.71.

Analyst Ratings Changes

GBCI has been the subject of several analyst reports. Weiss Ratings raised Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. DA Davidson lifted their target price on Glacier Bancorp from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Piper Sandler lifted their target price on Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Stephens upped their price target on Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.17.

Glacier Bancorp Trading Down 1.8%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50 day moving average price is $49.21 and its 200-day moving average price is $48.08. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 25.01 and a beta of 0.72.

Glacier Bancorp (NYSE:GBCI) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. The firm had revenue of $309.61 million during the quarter. Glacier Bancorp had a net margin of 17.60% and a return on equity of 7.19%. During the same period in the prior year, the company earned $0.48 earnings per share. Equities analysts forecast that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio is 61.68%.

Institutional Trading of Glacier Bancorp

Several hedge funds have recently modified their holdings of GBCI. Root Financial Partners LLC grew its holdings in Glacier Bancorp by 122.5% during the first quarter. Root Financial Partners LLC now owns 652 shares of the company’s stock worth $29,000 after acquiring an additional 359 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in Glacier Bancorp in the fourth quarter valued at $31,000. EverSource Wealth Advisors LLC boosted its position in shares of Glacier Bancorp by 218.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock worth $31,000 after purchasing an additional 490 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Glacier Bancorp by 41.2% during the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after purchasing an additional 223 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Glacier Bancorp during the 4th quarter worth $35,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.