Is Glacier Bancorp Inc. (GBCI) positioned for future growth?

Glacier Bancorp Inc. (NYSE: GBCI) stock fell -3.81% on Wednesday to $29.55 against a previous-day closing price of $30.72. With 0.6 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.81 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $30.42 whereas the lowest price it dropped to was $29.53. The 52-week range on GBCI shows that it touched its highest point at $59.70 and its lowest point at $26.77 during that stretch. It currently has a 1-year price target of $38.29. With its current market cap of 3.39 billion, GBCI has annualized dividend of $1.32 while the current yield stands at 4.47%. Beta for the stock currently stands at 0.79.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GBCI was up-trending over the past week, with a rise of 0.44%, but this was down by -9.85% over a month. Three-month performance dropped to -37.71% while six-month performance fell -48.47%. The stock lost -36.45% in the past year, while it has lost -40.21% so far this year. A look at the trailing 12-month EPS for GBCI yields 2.68 with Next year EPS estimates of 2.30. For the next quarter, that number is 0.51. This implies an EPS growth rate of -4.50% for this year and 8.44% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.30%.

Float and Shares Shorts:

At present, 110.83 million GBCI shares are outstanding with a float of 110.27 million shares on hand for trading. On Apr 27, 2023, short shares totaled 5.39 million, which was 4.87% higher than short shares on Mar 30, 2023. In addition to Mr. Randall M. Chesler as the firm’s Pres, CEO & Director, Mr. Ronald J. Copher CPA serves as its Exec. VP, CFO & Sec.

Institutional Ownership:

Through their ownership of 73.90% of GBCI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.58% of GBCI, in contrast to 32.86% held by mutual funds. Shares owned by individuals account for 2.75%. As the largest shareholder in GBCI with 11.11% of the stake, BlackRock Fund Advisors holds 12,310,663 shares worth 12,310,663. A second-largest stockholder of GBCI, The Vanguard Group, Inc., holds 12,147,749 shares, controlling over 10.96% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in GBCI, holding 4,713,690 shares or 4.25% stake. With a 3.12% stake in GBCI, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 3,456,852 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.09% of GBCI stock, is the second-largest Mutual Fund holder. It holds 3,422,220 shares valued at 113.72 million. Vanguard Small Cap Index Fund holds 2.62% of the stake in GBCI, owning 2,898,636 shares worth 96.32 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GBCI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GBCI analysts setting a high price target of $47.00 and a low target of $34.00, the average target price over the next 12 months is $38.29. Based on these targets, GBCI could surge 59.05% to reach the target high and rise by 15.06% to reach the target low. Reaching the average price target will result in a growth of 29.58% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded GBCI stock several times over the past three months with 7 Buys and 0 Sells. In these transactions, 13,665 shares were bought while 0 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 67,164 while 16,142 shares were sold.

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