Glacier Bancorp (NASDAQ:GBCI) Shares Up 4.8%

Glacier Bancorp, Inc. (NASDAQ:GBCI) traded up 4.8% during trading on Friday . The company traded as high as $36.83 and last traded at $36.79. 163,039 shares changed hands during trading, a decline of 78% from the average session volume of 749,072 shares. The stock had previously closed at $35.10.

Wall Street Analysts Forecast Growth

GBCI has been the subject of a number of recent analyst reports. Truist Financial dropped their price target on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating for the company in a report on Monday, April 1st. StockNews.com upgraded shares of Glacier Bancorp to a “sell” rating in a research report on Tuesday, March 19th. Stephens reiterated an “equal weight” rating and issued a $44.00 price objective on shares of Glacier Bancorp in a report on Friday. Finally, Raymond James raised their target price on Glacier Bancorp from $36.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.40.

Glacier Bancorp Stock Up 1.5 %

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. The firm’s fifty day moving average price is $37.79 and its 200-day moving average price is $36.53. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 18.39 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, April 18th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The business had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The business’s revenue was down 8.2% on a year-over-year basis. Sell-side analysts predict that Glacier Bancorp, Inc. will post 1.82 earnings per share for the current year.

Glacier Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 9th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.70%. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, April 8th. Glacier Bancorp’s dividend payout ratio is presently 65.67%.

Institutional Trading of Glacier Bancorp

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Glacier Bancorp by 2.9% in 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 period. Vanguard Group Inc. lifted 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 valued at $510,312,000 after purchasing an additional 80,251 shares in the last quarter. State Street Corp boosted its position in shares of Glacier Bancorp by 12.1% during the second quarter. State Street Corp now owns 5,281,795 shares of the bank’s stock worth $164,634,000 after buying an additional 568,105 shares during the period. Cooke & Bieler LP boosted its position in shares of Glacier Bancorp by 34.0% during the fourth quarter. Cooke & Bieler LP now owns 3,239,276 shares of the bank’s stock worth $133,847,000 after buying an additional 821,199 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings 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 worth $97,622,000 after buying an additional 100,095 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors and hedge funds.

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.