Glacier Bancorp (NASDAQ:GBCI) Sees Strong Trading Volume

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) saw unusually-high trading volume on Wednesday . Approximately 247,560 shares were traded during 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 several recent analyst reports. StockNews.com raised Glacier Bancorp to a “sell” rating in a research note on Tuesday, March 19th. Raymond James lifted their target price on Glacier Bancorp from $36.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, Truist Financial decreased their target price on Glacier Bancorp from $45.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.80.

Glacier Bancorp Trading Up 0.8 %

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. The stock has a 50 day simple moving average of $37.79 and a 200-day simple moving average of $36.53. The firm has a market cap of $3.98 billion, a P/E ratio of 17.32 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings data on Friday, January 26th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The business had revenue of $197.32 million for the quarter, compared to the consensus estimate of $198.32 million. During the same quarter in the previous year, the company posted $0.72 EPS. The company’s revenue was down 15.1% compared to the same quarter last year. On average, equities research analysts expect that Glacier Bancorp, Inc. will post 1.82 EPS for the current fiscal year.

Glacier Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th were paid a $0.33 dividend. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.32 dividend on an annualized basis and a yield of 3.76%. Glacier Bancorp’s payout ratio is presently 65.67%.

Institutional Trading of Glacier Bancorp

Large investors have recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its holdings in shares of Glacier Bancorp by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 27,236 shares of the bank’s stock worth $1,097,000 after purchasing an additional 600 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Glacier Bancorp in the 1st quarter worth approximately $25,000. Bridge City Capital LLC boosted its holdings in shares of Glacier Bancorp by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 104,445 shares of the bank’s stock worth $4,207,000 after purchasing an additional 815 shares during the period. &PARTNERS purchased a new position in shares of Glacier Bancorp in the 1st quarter worth approximately $991,000. Finally, Allied Investment Advisors LLC boosted its holdings in shares of Glacier Bancorp by 10.2% in the 1st quarter. Allied Investment Advisors LLC now owns 14,188 shares of the bank’s stock worth $571,000 after purchasing an additional 1,319 shares during the period. Institutional investors 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.