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Glacier Bancorp (NASDAQ:GBCI) Hits New 12-Month Low - Time to Sell?

Glacier Bancorp logo with Finance background

Glacier Bancorp, Inc. (NASDAQ:GBCI - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $39.77 and last traded at $40.80, with a volume of 663164 shares traded. The stock had previously closed at $41.36.

Analyst Ratings Changes

Several research firms have weighed in on GBCI. Raymond James set a $45.00 price target on Glacier Bancorp in a research report on Monday, April 28th. Piper Sandler lowered their target price on shares of Glacier Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Stephens upgraded shares of Glacier Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Glacier Bancorp from $55.00 to $50.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Glacier Bancorp currently has a consensus rating of "Hold" and a consensus target price of $50.50.

View Our Latest Analysis on Glacier Bancorp

Glacier Bancorp Trading Down 0.8 %

The firm has a market cap of $4.69 billion, a P/E ratio of 24.74 and a beta of 0.79. The business has a 50 day moving average of $42.73 and a two-hundred day moving average of $48.88. 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 - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The bank reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. Glacier Bancorp had a return on equity of 5.98% and a net margin of 14.99%. During the same quarter in the previous year, the company posted $0.29 earnings per share. Analysts predict that Glacier Bancorp, Inc. will post 2.45 earnings per share for the current year.

Glacier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Tuesday, April 8th. Glacier Bancorp's payout ratio is presently 70.97%.

Institutional Investors Weigh In On Glacier Bancorp

A number of large investors have recently modified their holdings of GBCI. Norges Bank bought a new stake in shares of Glacier Bancorp during the fourth quarter worth $56,923,000. Madison Investment Advisors LLC bought a new stake in Glacier Bancorp in the fourth quarter valued at approximately $47,770,000. Millennium Management LLC increased its position in shares of Glacier Bancorp by 4,600.1% during the fourth quarter. Millennium Management LLC now owns 936,079 shares of the bank's stock worth $47,010,000 after buying an additional 916,163 shares during the period. JPMorgan Chase & Co. grew its holdings in Glacier Bancorp by 76.0% during the 4th quarter. JPMorgan Chase & Co. now owns 561,370 shares of the bank's stock worth $28,192,000 after acquiring an additional 242,414 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Glacier Bancorp in the fourth quarter worth approximately $9,544,000. Institutional investors and hedge funds own 80.17% of the company's stock.

About Glacier Bancorp

(Get Free Report)

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.

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