Glacier Bancorp (NASDAQ:GBCI) Trading Down 5.2% – Here’s What Happened

Glacier Bancorp, Inc. (NASDAQ:GBCI)’s stock price fell 5.2% on Friday . The stock traded as low as $40.62 and last traded at $40.41. 288,136 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 612,222 shares. The stock had previously closed at $42.62.

Analyst Ratings Changes

GBCI has been the subject of several recent analyst reports. Raymond James reaffirmed an “outperform” rating and set a $55.00 price objective (up from $52.00) on shares of Glacier Bancorp in a research report on Wednesday, January 15th. Piper Sandler decreased their price target on shares of Glacier Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Stephens raised Glacier Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Glacier Bancorp currently has an average rating of “Hold” and a consensus price target of $56.00.

Glacier Bancorp Trading Down 4.2 %

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average is $43.58 and its 200 day moving average is $49.13. The stock has a market cap of $4.63 billion, a PE ratio of 24.44 and a beta of 0.80.

Glacier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Tuesday, April 8th. Glacier Bancorp’s dividend payout ratio (DPR) is presently 79.04%.

Hedge Funds Weigh In On Glacier Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GBCI. JNBA Financial Advisors purchased a new position in shares of Glacier Bancorp during the 1st quarter worth approximately $35,000. Peregrine Capital Management LLC acquired a new position in shares of Glacier Bancorp in the first quarter worth $7,754,000. Bessemer Group Inc. lifted its position in shares of Glacier Bancorp by 1,839.2% in the first quarter. Bessemer Group Inc. now owns 9,599 shares of the bank’s stock valued at $424,000 after acquiring an additional 9,104 shares in the last quarter. First American Bank lifted its position in shares of Glacier Bancorp by 1.5% in the first quarter. First American Bank now owns 32,976 shares of the bank’s stock valued at $1,458,000 after acquiring an additional 477 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Glacier Bancorp by 8.9% during the first quarter. Blue Trust Inc. now owns 4,698 shares of the bank’s stock valued at $208,000 after acquiring an additional 382 shares during the last quarter. 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.