Glacier Bancorp (NASDAQ:GBCI) Hits New 52-Week High – What’s Next?

Glacier Bancorp, Inc. (NASDAQ:GBCI) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $60.59 and last traded at $60.33, with a volume of 29699 shares changing hands. The stock had previously closed at $58.33.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GBCI shares. Truist Financial raised their price objective on shares of Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Raymond James raised their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler upped their price objective on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Glacier Bancorp has an average rating of “Hold” and a consensus target price of $46.20.

Glacier Bancorp Trading Down 0.9 %

The company has a market cap of $6.62 billion, a PE ratio of 36.35 and a beta of 0.77. The company’s 50 day simple moving average is $50.33 and its two-hundred day simple moving average is $43.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. Glacier Bancorp had a net margin of 14.69% and a return on equity of 5.84%. The firm had revenue of $324.28 million for the quarter, compared to analyst estimates of $212.57 million. During the same period in the prior year, the business posted $0.47 EPS. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 1.7 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.26%. Glacier Bancorp’s dividend payout ratio is currently 81.48%.

Institutional Investors Weigh In On Glacier Bancorp

Several institutional investors and hedge funds have recently modified their holdings of GBCI. Thrivent Financial for Lutherans grew its position in Glacier Bancorp by 19.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,694,409 shares of the bank’s stock valued at $77,435,000 after acquiring an additional 280,255 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Glacier Bancorp by 131.9% in the second quarter. Millennium Management LLC now owns 477,154 shares of the bank’s stock valued at $17,807,000 after purchasing an additional 271,398 shares in the last quarter. Sei Investments Co. increased its stake in Glacier Bancorp by 123.9% during the 2nd quarter. Sei Investments Co. now owns 332,062 shares of the bank’s stock worth $12,393,000 after buying an additional 183,757 shares during the period. Ceredex Value Advisors LLC lifted its holdings in Glacier Bancorp by 145.0% during the 2nd quarter. Ceredex Value Advisors LLC now owns 308,500 shares of the bank’s stock worth $11,513,000 after buying an additional 182,600 shares in the last quarter. Finally, Natixis Advisors LLC lifted its holdings in Glacier Bancorp by 187.1% during the 2nd quarter. Natixis Advisors LLC now owns 253,014 shares of the bank’s stock worth $9,442,000 after buying an additional 164,897 shares in the last quarter. Hedge funds and other institutional investors 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.