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

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) saw strong trading volume on Wednesday . 247,560 shares traded hands during mid-day 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.

Analyst Ratings Changes

GBCI has been the topic of a number of recent analyst reports. Raymond James lifted their price objective on shares of Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Truist Financial dropped 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 report on Monday, April 1st. Finally, StockNews.com raised shares of Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Glacier Bancorp presently has an average rating of “Hold” and an average price target of $37.80.

Glacier Bancorp Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81. The business has a fifty day moving average of $37.87 and a 200-day moving average of $36.55. 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 posted its quarterly earnings data on Friday, January 26th. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.08. Glacier Bancorp had a net margin of 19.63% and a return on equity of 7.59%. The company had revenue of $197.32 million during the quarter, compared to analyst estimates of $198.32 million. During the same quarter last year, the firm posted $0.72 EPS. The business’s revenue for the quarter was down 15.1% on a year-over-year basis. On average, equities analysts anticipate that Glacier Bancorp, Inc. will post 1.82 earnings per share for the current fiscal year.

Glacier Bancorp Increases Dividend

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

Institutional Investors Weigh In On Glacier Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised its position in shares of Glacier Bancorp by 3.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,668 shares of the bank’s stock worth $1,492,000 after purchasing an additional 926 shares during the period. US Bancorp DE increased its stake in Glacier Bancorp by 2.9% in the 1st quarter. US Bancorp DE now owns 11,115 shares of the bank’s stock worth $559,000 after purchasing an additional 308 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new stake in Glacier Bancorp during the 1st quarter worth about $410,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Glacier Bancorp by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,755 shares of the bank’s stock valued at $1,999,000 after buying an additional 3,791 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Glacier Bancorp by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 58,637 shares of the bank’s stock worth $3,029,000 after buying an additional 3,729 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.

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.