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

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.

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

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.