Glacier Bancorp (NASDAQ:GBCI) Sets New 1-Year High – Still a Buy?

Glacier Bancorp, Inc. (NASDAQ:GBCI) reached a new 52-week high on Monday . The stock 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.

Wall Street Analyst Weigh In

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

Glacier Bancorp Price Performance

The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 31.86 and a beta of 0.75. The stock’s fifty day moving average price is $46.14 and its two-hundred day moving average price is $45.81. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, January 22nd. The bank reported $0.49 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $0.54 earnings per share. Equities research analysts expect that Glacier Bancorp, Inc. will post 2.45 EPS for the current year.

Glacier Bancorp Announces Dividend

The firm also recently announced 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. This represents a $1.32 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, December 9th. Glacier Bancorp’s dividend payout ratio (DPR) is 66.33%.

Insider Buying and Selling

In related news, insider Lee Kenneth Groom bought 2,425 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were purchased at an average cost of $41.26 per share, with a total value of $100,055.50. Following the transaction, the insider directly owned 14,343 shares of the company’s stock, valued at approximately $591,792.18. This represents a 20.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ryan Thomas Screnar purchased 979 shares of Glacier Bancorp stock in a transaction that occurred on Thursday, November 6th. The stock was bought at an average cost of $41.88 per share, with a total value of $41,000.52. Following the completion of the transaction, the insider owned 10,842 shares of the company’s stock, valued at $454,062.96. The trade was a 9.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of Glacier Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in Glacier Bancorp during the second quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its position in Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the bank’s stock valued at $31,000 after purchasing an additional 490 shares during the last quarter. Mather Group LLC. purchased a new position in Glacier Bancorp during the 3rd quarter worth $35,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Glacier Bancorp in the third quarter valued at about $40,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Glacier Bancorp by 1,176.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,264 shares of the bank’s stock worth $62,000 after buying an additional 1,165 shares during the last quarter. 80.17% of the stock is owned by hedge funds and other institutional investors.

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.