Glacier Bancorp Inc. (NASDAQ: GBCI) shares rose in value yesterday on heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Analysts at Zacks Investment Research upgraded shares of Glacier Bancorp Inc. (NASDAQ: GBCI) from Sell to Hold today. With a rating of Hold on the stock, the company has a 52-week high of $30.12. A number of other analysts have spoken on the stock recently, and Glacier Bancorp Inc. has secured a consensus one-year price target of $29.50, above the opening price of $28.49. Usually, after analysts issue an upgrade report on a stock, they will later issue sporadic updates, such as a price target change.
Meanwhile, the Dow Jones Industrial Average DJIA, +0.62% finished up 112.58 points, or 0.6%, at 18,281.03 yesterday.
The Nasdaq Composite Index COMP, +0.50% rose 26.36 points, or 0.5%, to end at 5,316.02, and is up 0.1% for the week to date.
The S&P 500 index SPX, +0.43% added 9.24 points, or 0.4%, to close at 2,159.73.
Glacier Bancorp Inc. (NASDAQ: GBCI) shares last traded at $28.78, which represents a spike of $0.37 or 0.01 over the previous closing price. Opening at $28.49, they fluctuated from $28.46 and $28.97 throughout the day.
Glacier Bancorp Inc. (NASDAQ: GBCI) currently has a market cap of 2.19B.
Glacier Bancorp Inc.Trading Volume
302,068 shares traded hands yesterday, above the average, out of a total float 75,351,000. Large expansions in trading volume and price growth together could signal excessive volume accumulation by institutional investors.
However, a single day of high volume buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you’re researching.
Glacier Bancorp Inc. Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Glacier Bancorp Inc. (NASDAQ: GBCI) have ranged from $21.90 – 30.12, and the stock now has a 50-day MA of $28.94 and 200-day MA of $27.04. Today’s last price is 0.04% under the 52 week high of $30.12.
Earnings growth is ann important factor to look at when buying stocks and investors seek companies that have increased their earnings by at least 25% over a 3 year period.
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