Glacier Bancorp (NASDAQ:GBCI) Sees Unusually-High Trading Volume

Glacier Bancorp, Inc. (NASDAQ:GBCI) shares saw an uptick in trading volume on Wednesday . 247,560 shares changed hands during 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.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Raymond James raised their price target 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 upgraded shares of Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Finally, Truist Financial lowered their price target on shares of Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.80.

Glacier Bancorp Stock Performance

The firm has a fifty day moving average of $37.87 and a 200-day moving average of $36.55. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 17.34 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Friday, January 26th. The bank reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The business had revenue of $197.32 million during the quarter, compared to analysts’ expectations of $198.32 million. During the same quarter last year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was down 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Glacier Bancorp, Inc. will post 1.82 EPS for the current year.

Glacier Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, April 8th. This represents a $1.32 dividend on an annualized basis and a yield of 3.75%. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. Glacier Bancorp’s payout ratio is presently 65.67%.

Institutional Trading of Glacier Bancorp

Large investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Glacier Bancorp by 2.9% during the 1st quarter. BlackRock Inc. now owns 13,765,767 shares of the bank’s stock worth $578,300,000 after purchasing an additional 388,578 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Glacier Bancorp by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock worth $510,312,000 after acquiring an additional 80,251 shares during the last quarter. State Street Corp raised its holdings in shares of Glacier Bancorp by 12.1% in the second quarter. State Street Corp now owns 5,281,795 shares of the bank’s stock worth $164,634,000 after acquiring an additional 568,105 shares during the last quarter. Cooke & Bieler LP lifted its position in shares of Glacier Bancorp by 34.0% in the fourth quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock valued at $133,847,000 after acquiring an additional 821,199 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Glacier Bancorp by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,323,749 shares of the bank’s stock valued at $97,622,000 after acquiring an additional 100,095 shares during the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

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.