Glacier Bancorp, Inc. (GBCI) Sees Unusually-High Trading Volume
Glacier Bancorp, Inc. (NASDAQ:GBCI) saw strong trading volume on Friday . 809,505 shares changed hands during trading, an increase of 155% from the previous session’s volume of 317,977 shares.The stock last traded at $32.21 and had previously closed at $31.50.
A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods set a $36.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a research note on Monday, August 28th. Piper Jaffray Companies set a $38.00 price objective on Glacier Bancorp and gave the company a “hold” rating in a research note on Saturday, July 29th. BidaskClub cut Glacier Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Zacks Investment Research cut Glacier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th.
The firm has a market capitalization of $2.51 billion, a PE ratio of 19.52 and a beta of 1.45. The firm has a 50-day moving average of $34.01 and a 200-day moving average of $34.57.
Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by $0.01. Glacier Bancorp had a net margin of 27.30% and a return on equity of 11.02%. The business had revenue of $113.91 million for the quarter, compared to analysts’ expectations of $115.60 million. During the same quarter in the prior year, the company posted $0.40 EPS. On average, equities analysts expect that Glacier Bancorp, Inc. will post $1.78 EPS for the current fiscal year.
In other news, Director James M. English sold 2,500 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $36.65, for a total transaction of $91,625.00. Following the completion of the sale, the director now owns 20,181 shares in the company, valued at approximately $739,633.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Glacier Bancorp by 2.3% during the 2nd quarter. BlackRock Inc. now owns 9,857,811 shares of the bank’s stock valued at $360,895,000 after purchasing an additional 217,840 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Glacier Bancorp by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,233,836 shares of the bank’s stock valued at $264,832,000 after purchasing an additional 178,063 shares during the last quarter. State Street Corp lifted its holdings in shares of Glacier Bancorp by 25.8% during the 1st quarter. State Street Corp now owns 3,003,305 shares of the bank’s stock valued at $101,899,000 after purchasing an additional 615,216 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Glacier Bancorp by 2.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,207,769 shares of the bank’s stock valued at $74,909,000 after purchasing an additional 58,634 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK lifted its holdings in shares of Glacier Bancorp by 6.0% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 2,192,431 shares of the bank’s stock valued at $80,265,000 after purchasing an additional 124,446 shares during the last quarter. Hedge funds and other institutional investors own 81.08% of the company’s stock.
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Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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