Glacier Bancorp (NASDAQ:GBCI) Hits New 12-Month High – Time to Buy?

Glacier Bancorp, Inc. (NASDAQ:GBCI) reached a new 52-week high on Monday . The company traded as high as $51.72 and last traded at $51.71, with a volume of 125141 shares changing hands. The stock had previously closed at $50.68.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GBCI shares. DA Davidson boosted their target price on shares of Glacier Bancorp from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating on shares of Glacier Bancorp in a research note on Monday, January 26th. Piper Sandler upgraded shares of Glacier Bancorp from a “neutral” rating to an “overweight” rating and increased their price target for the company from $50.00 to $58.00 in a research report on Thursday, December 18th. Stephens set a $58.00 price objective on Glacier Bancorp in a research report on Monday, January 26th. Finally, Raymond James Financial reduced their price target on Glacier Bancorp from $55.00 to $49.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Glacier Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Glacier Bancorp Price Performance

The firm has a 50 day moving average price of $45.58 and a 200 day moving average price of $45.68. 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 stock has a market cap of $6.62 billion, a P/E ratio of 30.52 and a beta of 0.75.

Glacier Bancorp (NASDAQ:GBCI) last released its earnings results on Thursday, January 22nd. The bank reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.13). Glacier Bancorp had a net margin of 14.99% and a return on equity of 5.98%. During the same quarter in the previous year, the firm posted $0.54 EPS. On average, analysts forecast that Glacier Bancorp, Inc. will post 2.45 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Tuesday, December 9th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, December 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.6%. Glacier Bancorp’s dividend payout ratio (DPR) is presently 66.33%.

Insider Transactions at Glacier Bancorp

In other Glacier Bancorp news, CEO Randall M. Chesler acquired 2,437 shares of the stock in a transaction on Wednesday, November 5th. The stock was acquired at an average price of $40.91 per share, for a total transaction of $99,697.67. Following the completion of the transaction, the chief executive officer directly owned 7,422 shares of the company’s stock, valued at $303,634.02. This trade represents a 48.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ron J. Copher bought 2,400 shares of Glacier Bancorp stock in a transaction dated Wednesday, November 5th. The stock was acquired at an average price of $41.17 per share, for a total transaction of $98,808.00. Following the completion of the acquisition, the chief financial officer owned 96,626 shares in the company, valued at approximately $3,978,092.42. The trade was a 2.55% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 8,241 shares of company stock valued at $339,562 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On Glacier Bancorp

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in Glacier Bancorp by 30.9% during the first quarter. AQR Capital Management LLC now owns 31,176 shares of the bank’s stock worth $1,358,000 after buying an additional 7,359 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Glacier Bancorp by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,352,310 shares of the bank’s stock worth $59,799,000 after purchasing an additional 73,756 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Glacier Bancorp by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 352,477 shares of the bank’s stock valued at $15,587,000 after purchasing an additional 26,157 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Glacier Bancorp in the 2nd quarter worth about $304,000. Finally, Janney Montgomery Scott LLC lifted its stake in Glacier Bancorp by 1.9% in the second quarter. Janney Montgomery Scott LLC now owns 12,630 shares of the bank’s stock worth $544,000 after purchasing an additional 240 shares during the last quarter. Institutional investors 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.