Glacier Bancorp (NASDAQ:GBCI) Shares Pass Above 200 Day Moving Average – What’s Next?

Glacier Bancorp, Inc. (NASDAQ:GBCI) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $47.23 and traded as high as $51.83. Glacier Bancorp shares last traded at $50.22, with a volume of 526,458 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GBCI. Raymond James upped their price target on shares of Glacier Bancorp from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Truist Financial increased their target price on Glacier Bancorp from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Piper Sandler lifted their price target on Glacier Bancorp from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on Glacier Bancorp from $50.00 to $62.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.83.

Glacier Bancorp Price Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $5.69 billion, a PE ratio of 31.00 and a beta of 0.81. The business’s 50-day moving average price is $54.40 and its 200 day moving average price is $47.34.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Thursday, October 24th. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. The business had revenue of $324.28 million during the quarter, compared to analysts’ expectations of $212.57 million. Glacier Bancorp had a return on equity of 5.84% and a net margin of 14.69%. During the same period in the previous year, the business earned $0.47 earnings per share. Research analysts forecast that Glacier Bancorp, Inc. will post 1.7 earnings per share for the current year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.32 annualized dividend and a yield of 2.63%. Glacier Bancorp’s payout ratio is presently 81.48%.

Hedge Funds Weigh In On Glacier Bancorp

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in Glacier Bancorp by 60.4% in the third quarter. GAMMA Investing LLC now owns 2,516 shares of the bank’s stock worth $115,000 after acquiring an additional 947 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Glacier Bancorp by 44.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,995 shares of the bank’s stock valued at $137,000 after buying an additional 927 shares during the period. Wolverine Trading LLC bought a new stake in shares of Glacier Bancorp in the third quarter worth about $205,000. Intech Investment Management LLC bought a new stake in shares of Glacier Bancorp in the 2nd quarter worth approximately $207,000. Finally, Paloma Partners Management Co bought a new stake in Glacier Bancorp in the third quarter valued at $250,000. 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.