Glacier Bancorp (NYSE:GBCI) Reaches New 12-Month High – What’s Next?

Glacier Bancorp, Inc. (NYSE:GBCI)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $54.04 and last traded at $54.15, with a volume of 140898 shares trading hands. The stock had previously closed at $52.71.

Analyst Ratings Changes

Several research analysts recently issued reports on GBCI shares. Piper Sandler increased their target price on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Stephens upped their price objective on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, DA Davidson increased their price objective on shares of Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.17.

Glacier Bancorp Trading Up 3.0%

The stock has a market capitalization of $7.07 billion, a PE ratio of 25.42 and a beta of 0.72. The firm has a 50 day moving average price of $49.00 and a 200 day moving average price of $47.98. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.06.

Glacier Bancorp (NYSE:GBCI) last announced its earnings results on Thursday, April 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.The company had revenue of $309.61 million for the quarter. During the same period in the previous year, the firm earned $0.48 EPS. Equities analysts expect that Glacier Bancorp, Inc. will post 3.16 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, July 7th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, July 7th. This represents a $1.32 annualized dividend and a yield of 2.4%. Glacier Bancorp’s dividend payout ratio (DPR) is 61.68%.

Institutional Trading of Glacier Bancorp

Institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC raised its holdings in shares of Glacier Bancorp by 122.5% in the first quarter. Root Financial Partners LLC now owns 652 shares of the company’s stock valued at $29,000 after purchasing an additional 359 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Glacier Bancorp during the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC grew its position in Glacier Bancorp by 218.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 714 shares of the company’s stock worth $31,000 after purchasing an additional 490 shares in the last quarter. Global Retirement Partners LLC grew its position in Glacier Bancorp by 41.2% in the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the company’s stock worth $34,000 after purchasing an additional 223 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Glacier Bancorp in the 4th quarter valued at about $35,000. Institutional investors own 80.17% of the company’s stock.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.