Glacier Bancorp (NYSE:GBCI) Reaches New 12-Month High – What’s Next?

Glacier Bancorp, Inc. (NYSE:GBCI) shares hit a new 52-week high on Thursday . The stock 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.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GBCI. DA Davidson boosted their price objective on shares of Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. Stephens boosted their price target on Glacier Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Piper Sandler upped their target price on shares of Glacier Bancorp from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.17.

Glacier Bancorp Stock Performance

The stock’s fifty day moving average price is $49.00 and its two-hundred day moving average price is $47.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $7.07 billion, a P/E ratio of 25.42 and a beta of 0.72.

Glacier Bancorp (NYSE:GBCI) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The business 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 quarter in the prior year, the company earned $0.48 earnings per share. As a group, equities analysts predict that Glacier Bancorp, Inc. will post 3.16 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, July 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.4%. Glacier Bancorp’s dividend payout ratio (DPR) is 61.68%.

Institutional Investors Weigh In On Glacier Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. American National Bank & Trust bought a new position in shares of Glacier Bancorp in the 4th quarter worth about $4,821,000. Geode Capital Management LLC boosted its position in shares of Glacier Bancorp by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 3,330,658 shares of the company’s stock valued at $146,736,000 after purchasing an additional 237,316 shares in the last quarter. Hsbc Holdings PLC grew its stake in Glacier Bancorp by 881.8% during the fourth quarter. Hsbc Holdings PLC now owns 43,453 shares of the company’s stock worth $1,919,000 after purchasing an additional 39,027 shares during the period. Deprince Race & Zollo Inc. grew its stake in Glacier Bancorp by 30.7% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,662,407 shares of the company’s stock worth $73,229,000 after purchasing an additional 390,366 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Glacier Bancorp by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock worth $588,471,000 after purchasing an additional 870,335 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

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.