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

Glacier Bancorp, Inc. (NASDAQ:GBCI)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $47.80 and last traded at $47.80, with a volume of 158 shares changing hands. The stock had previously closed at $47.23.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Raymond James boosted their target price on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Truist Financial boosted their target price on shares of Glacier Bancorp from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Piper Sandler restated a “neutral” rating and issued a $38.00 target price on shares of Glacier Bancorp in a research note on Tuesday, August 27th. One investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $44.20.

Glacier Bancorp Trading Up 0.5 %

The company’s 50-day moving average is $44.61 and its 200-day moving average is $40.55. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 27.01 and a beta of 0.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Glacier Bancorp had a net margin of 15.15% and a return on equity of 6.06%. The business had revenue of $306.04 million for the quarter, compared to the consensus estimate of $204.43 million. During the same quarter in the prior year, the company earned $0.50 EPS. On average, research analysts predict that Glacier Bancorp, Inc. will post 1.63 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.78%. Glacier Bancorp’s payout ratio is presently 75.43%.

Insider Buying and Selling at Glacier Bancorp

In other Glacier Bancorp news, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $45.49, for a total transaction of $45,490.00. Following the transaction, the chief accounting officer now directly owns 52,539 shares in the company, valued at approximately $2,389,999.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Annie M. Goodwin sold 5,619 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $44.55, for a total value of $250,326.45. Following the completion of the sale, the director now directly owns 9,402 shares of the company’s stock, valued at $418,859.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Don J. Chery sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $45.49, for a total value of $45,490.00. Following the completion of the sale, the chief accounting officer now directly owns 52,539 shares of the company’s stock, valued at approximately $2,389,999.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Institutional Trading of Glacier Bancorp

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in Glacier Bancorp during the 1st quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in Glacier Bancorp during the 2nd quarter worth approximately $25,000. Headlands Technologies LLC bought a new stake in Glacier Bancorp during the 1st quarter worth approximately $50,000. GAMMA Investing LLC increased its stake in Glacier Bancorp by 96.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,569 shares of the bank’s stock worth $59,000 after purchasing an additional 772 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Glacier Bancorp during the 1st quarter worth approximately $216,000. 80.17% of the stock is owned by institutional investors.

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.