Glacier Bancorp (NASDAQ:GBCI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $45.49 and traded as high as $48.49. Glacier Bancorp shares last traded at $47.8650, with a volume of 793,176 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. DA Davidson reissued a “buy” rating and set a $58.00 target price on shares of Glacier Bancorp in a research note on Wednesday, November 12th. Piper Sandler upgraded shares of Glacier Bancorp from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $50.00 to $58.00 in a research note on Thursday, December 18th. Raymond James Financial reduced their target price on shares of Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Finally, Keefe, Bruyette & Woods raised Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat, Glacier Bancorp has an average rating of “Buy” and an average price target of $53.60.

Glacier Bancorp Stock Down 1.1%

The business’s 50 day moving average is $44.11 and its 200 day moving average is $45.49. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The company has a market cap of $6.22 billion, a P/E ratio of 28.66 and a beta of 0.75.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings results on Thursday, October 16th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.05). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same period in the previous year, the company earned $0.46 earnings per share. As a group, equities analysts anticipate that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Tuesday, December 9th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, December 9th. Glacier Bancorp’s dividend payout ratio is presently 64.71%.

Insider Activity

In other Glacier Bancorp news, insider Lee Kenneth Groom purchased 2,425 shares of the stock in a transaction on Thursday, November 6th. The stock was acquired at an average price of $41.26 per share, with a total value of $100,055.50. Following the completion of the acquisition, the insider owned 14,343 shares in the company, valued at $591,792.18. The trade was a 20.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ron J. Copher acquired 2,400 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were bought at an average price of $41.17 per share, for a total transaction of $98,808.00. Following the acquisition, the chief financial officer owned 96,626 shares of the company’s stock, valued at approximately $3,978,092.42. This represents a 2.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 8,852 shares of company stock worth $364,484 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GBCI. Davidson Trust Co. purchased a new stake in shares of Glacier Bancorp during the 3rd quarter worth about $3,478,000. Voya Investment Management LLC boosted its position in Glacier Bancorp by 1,653.0% during the third quarter. Voya Investment Management LLC now owns 540,871 shares of the bank’s stock worth $26,324,000 after purchasing an additional 510,017 shares in the last quarter. Idaho Trust Co acquired a new stake in Glacier Bancorp in the second quarter valued at approximately $14,663,000. Kennedy Capital Management LLC raised its stake in shares of Glacier Bancorp by 20.6% during the 2nd quarter. Kennedy Capital Management LLC now owns 235,048 shares of the bank’s stock worth $10,126,000 after buying an additional 40,138 shares during the period. Finally, Westwood Holdings Group Inc. lifted its position in shares of Glacier Bancorp by 8.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 675,369 shares of the bank’s stock valued at $29,095,000 after buying an additional 51,555 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Glacier Bancorp Company Profile

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana, serving communities across the western United States. Through its primary banking subsidiary, Glacier Bank, the company offers a range of financial products, including commercial and consumer lending, deposit accounts, treasury management, mortgage banking, wealth management and insurance services. With locations in dozens of branches across Montana, Idaho, Wyoming, Nevada, Utah, Washington, Colorado and Arizona, it caters to individuals, small businesses and agribusiness clients.

Since its establishment in the mid-20th century as a community-focused savings institution, Glacier Bancorp has grown through both organic expansion and strategic acquisitions of regional banks, strengthening its presence in local markets.