Glacier Bancorp (NASDAQ:GBCI) Hits New 1-Year High – Time to Buy?

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) hit a new 52-week high during trading on Wednesday . The company traded as high as $57.73 and last traded at $57.42, with a volume of 37147 shares traded. The stock had previously closed at $52.10.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Raymond James increased their target price on Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Piper Sandler raised their target price on Glacier Bancorp from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Truist Financial boosted their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.20.

Glacier Bancorp Trading Up 0.9 %

The business has a 50-day moving average of $47.25 and a 200-day moving average of $42.28. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 34.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.03. The business had revenue of $324.28 million during the quarter, compared to the consensus estimate of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same period in the prior year, the company earned $0.47 earnings per share. As a group, research analysts forecast that Glacier Bancorp, Inc. will post 1.67 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Tuesday, October 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.34%. Glacier Bancorp’s dividend payout ratio is presently 81.48%.

Institutional Trading of Glacier Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its stake in shares of Glacier Bancorp by 46.2% during the first quarter. Sei Investments Co. now owns 148,305 shares of the bank’s stock worth $5,974,000 after purchasing an additional 46,890 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Glacier Bancorp by 21.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 78,463 shares of the bank’s stock worth $3,160,000 after acquiring an additional 13,655 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Glacier Bancorp in the first quarter valued at about $477,000. Blue Trust Inc. increased its stake in shares of Glacier Bancorp by 20,598.6% during the second quarter. Blue Trust Inc. now owns 14,903 shares of the bank’s stock worth $600,000 after acquiring an additional 14,831 shares during the period. Finally, Capital Research Global Investors raised its holdings in Glacier Bancorp by 60.3% during the first quarter. Capital Research Global Investors now owns 1,924,997 shares of the bank’s stock worth $77,539,000 after purchasing an additional 724,089 shares in the last quarter. 80.17% of the stock is owned by hedge funds and other 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.