Glacier Bancorp (NASDAQ:GBCI) Trading Down 6.9%

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI - Get Free Report) were down 6.9% during mid-day trading on Wednesday . The company traded as low as $36.83 and last traded at $36.92. Approximately 183,734 shares traded hands during trading, a decline of 75% from the average daily volume of 747,934 shares. The stock had previously closed at $39.65.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GBCI shares. Raymond James upped their price objective on Glacier Bancorp from $36.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, January 5th. StockNews.com upgraded Glacier Bancorp to a "sell" rating in a research report on Tuesday, March 19th. Finally, Truist Financial decreased their price objective on Glacier Bancorp from $45.00 to $42.00 and set a "hold" rating on the stock in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $37.80.

Glacier Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a fifty day moving average price of $38.03 and a two-hundred day moving average price of $36.29. The stock has a market capitalization of $4.16 billion, a PE ratio of 18.54 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI - Get Free Report) last issued its quarterly earnings results on Friday, January 26th. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.08. Glacier Bancorp had a return on equity of 7.59% and a net margin of 19.63%. The firm had revenue of $197.32 million for the quarter, compared to the consensus estimate of $198.32 million. During the same period in the prior year, the business posted $0.72 earnings per share. The company's revenue for the quarter was down 15.1% on a year-over-year basis. Research analysts expect that Glacier Bancorp, Inc. will post 1.82 EPS for the current year.

Glacier Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Tuesday, April 9th will be issued a dividend of $0.33 per share. This is an increase from Glacier Bancorp's previous quarterly dividend of $0.10. This represents a $1.32 annualized dividend and a yield of 3.60%. The ex-dividend date is Monday, April 8th. Glacier Bancorp's dividend payout ratio (DPR) is presently 65.67%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP boosted its position in Glacier Bancorp by 409.4% during the 4th quarter. Allworth Financial LP now owns 596 shares of the bank's stock valued at $25,000 after acquiring an additional 479 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Glacier Bancorp in the 4th quarter worth $25,000. Barclays PLC boosted its position in shares of Glacier Bancorp by 1,498.3% in the 3rd quarter. Barclays PLC now owns 943 shares of the bank's stock worth $27,000 after purchasing an additional 884 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Glacier Bancorp in the 4th quarter worth $28,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in shares of Glacier Bancorp in the 2nd quarter worth $36,000. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

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.