Glacier Bancorp (NASDAQ:GBCI) Hits New 1-Year Low at $37.28

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI – Get Rating) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $37.28 and last traded at $37.75, with a volume of 172799 shares trading hands. The stock had previously closed at $40.89.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GBCI. Truist Financial lowered their price objective on Glacier Bancorp from $62.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, February 1st. StockNews.com lowered Glacier Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 10th. Finally, Raymond James raised shares of Glacier Bancorp from a “market perform” rating to an “outperform” rating and set a $51.00 price objective on the stock in a report on Tuesday, February 21st.

Glacier Bancorp Price Performance

The stock has a market cap of $4.59 billion, a PE ratio of 15.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The business has a 50 day moving average price of $46.67 and a two-hundred day moving average price of $50.70.

Glacier Bancorp (NASDAQ:GBCI – Get Rating) last posted its quarterly earnings data on Friday, January 27th. The bank reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Glacier Bancorp had a return on equity of 10.60% and a net margin of 31.90%. The business had revenue of $253.57 million during the quarter, compared to analysts’ expectations of $242.03 million. During the same period in the prior year, the firm posted $0.46 EPS. Research analysts expect that Glacier Bancorp, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Glacier Bancorp

In related news, CFO Ron J. Copher acquired 2,578 shares of the stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $38.74 per share, with a total value of $99,871.72. Following the completion of the transaction, the chief financial officer now owns 77,494 shares in the company, valued at approximately $3,002,117.56. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Ron J. Copher bought 2,578 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $38.74 per share, with a total value of $99,871.72. Following the completion of the transaction, the chief financial officer now directly owns 77,494 shares of the company’s stock, valued at approximately $3,002,117.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Randall M. Chesler purchased 2,500 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were purchased at an average cost of $39.19 per share, for a total transaction of $97,975.00. Following the transaction, the chief executive officer now directly owns 2,500 shares in the company, valued at $97,975. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 10,078 shares of company stock worth $398,897. 0.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Glacier Bancorp

Several large investors have recently modified their holdings of GBCI. US Bancorp DE grew its stake in Glacier Bancorp by 19.5% in the 3rd quarter. US Bancorp DE now owns 13,498 shares of the bank’s stock valued at $664,000 after buying an additional 2,202 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Glacier Bancorp by 10.1% in the third quarter. California Public Employees Retirement System now owns 246,065 shares of the bank’s stock valued at $12,089,000 after purchasing an additional 22,472 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Glacier Bancorp by 81.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,840 shares of the bank’s stock valued at $139,000 after purchasing an additional 1,275 shares during the period. Congress Wealth Management LLC DE lifted its holdings in Glacier Bancorp by 23.2% during the 3rd quarter. Congress Wealth Management LLC DE now owns 26,383 shares of the bank’s stock worth $1,296,000 after purchasing an additional 4,975 shares in the last quarter. Finally, Synovus Financial Corp boosted its stake in Glacier Bancorp by 9.5% in the 2nd quarter. Synovus Financial Corp now owns 19,858 shares of the bank’s stock worth $944,000 after purchasing an additional 1,721 shares during the period. Hedge funds and other institutional investors own 70.54% of the company’s stock.

About Glacier Bancorp

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Glacier Bancorp, Inc engages in the provision of banking services to individuals and businesses. Its portfolio segment of loans includes residential, commercial, and other commercial real estate, home equity, and other consumer. The firm also offers retail banking, business banking, real estate, commercial, agriculture, and consumer loans, and mortgage origination and loan servicing.