Glacier Bancorp (NASDAQ:GBCI) Trading Up 4.8%

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

Analyst Ratings Changes

A number of research firms recently issued reports on GBCI. Raymond James boosted their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Truist Financial reduced their price objective on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Stephens reissued an “equal weight” rating and issued a $44.00 price objective on shares of Glacier Bancorp in a report on Friday. Finally, StockNews.com raised Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.40.

Glacier Bancorp Stock Up 1.5 %

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 firm has a market capitalization of $4.04 billion, a P/E ratio of 18.39 and a beta of 0.80. The firm’s fifty day moving average price is $37.79 and its 200-day moving average price is $36.53.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Glacier Bancorp had a net margin of 19.63% and a return on equity of 7.59%. The firm had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. During the same period in the previous year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, equities research analysts forecast 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 issued 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 of this dividend was Monday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 65.67%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of 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 acquiring an additional 388,578 shares during the last quarter. Vanguard Group Inc. increased its stake in Glacier Bancorp by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,350,243 shares of the bank’s stock worth $510,312,000 after purchasing an additional 80,251 shares in the last quarter. State Street Corp increased its stake in Glacier Bancorp by 12.1% in the 2nd quarter. State Street Corp now owns 5,281,795 shares of the bank’s stock worth $164,634,000 after purchasing an additional 568,105 shares in the last quarter. Cooke & Bieler LP raised its holdings in Glacier Bancorp by 34.0% during the 4th 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 lifted its stake in 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 buying an additional 100,095 shares in the last quarter. Institutional investors own 80.17% of the company’s stock.

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.