Glacier Bancorp, Inc. (NASDAQ:GBCI) Given Average Rating of “Moderate Buy” by Analysts

Shares of Glacier Bancorp, Inc. (NASDAQ:GBCI) have been assigned a consensus recommendation of “Moderate Buy” from the four analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $40.40.

GBCI has been the topic of a number of recent analyst reports. Stephens lowered their target price on Glacier Bancorp from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Truist Financial lowered their target price on Glacier Bancorp from $42.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Finally, DA Davidson lowered their target price on Glacier Bancorp from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd.

Institutional Investors Weigh In On Glacier Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Glacier Bancorp by 50.1% during the 3rd quarter. FMR LLC now owns 1,360,803 shares of the bank’s stock valued at $38,783,000 after buying an additional 454,289 shares in the last quarter. Mariner LLC grew its holdings in Glacier Bancorp by 4.0% during the 3rd quarter. Mariner LLC now owns 18,236 shares of the bank’s stock valued at $520,000 after buying an additional 705 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Glacier Bancorp by 204.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 19,302 shares of the bank’s stock valued at $550,000 after buying an additional 12,962 shares in the last quarter. Teza Capital Management LLC grew its holdings in Glacier Bancorp by 96.2% during the 3rd quarter. Teza Capital Management LLC now owns 17,988 shares of the bank’s stock valued at $513,000 after buying an additional 8,819 shares in the last quarter. Finally, Quadrature Capital Ltd grew its holdings in shares of Glacier Bancorp by 22.0% during the third quarter. Quadrature Capital Ltd now owns 22,702 shares of the bank’s stock worth $648,000 after purchasing an additional 4,095 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.

Glacier Bancorp Price Performance

Shares of NASDAQ:GBCI opened at $37.32 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The stock’s fifty day simple moving average is $37.16 and its two-hundred day simple moving average is $38.36. Glacier Bancorp has a 1-year low of $26.83 and a 1-year high of $44.06. The stock has a market cap of $4.23 billion, a PE ratio of 21.33 and a beta of 0.80.

Glacier Bancorp (NASDAQ:GBCI) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company had revenue of $196.47 million for the quarter, compared to the consensus estimate of $202.66 million. Glacier Bancorp had a net margin of 16.40% and a return on equity of 6.51%. Glacier Bancorp’s revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. As a group, analysts forecast that Glacier Bancorp will post 1.64 EPS for the current fiscal year.

Glacier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Tuesday, July 9th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Tuesday, July 9th. Glacier Bancorp’s dividend payout ratio is currently 75.43%.

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.