Glacier Bancorp Inc. (GBCI) Rating Increased to Hold at Zacks Investment Research
Glacier Bancorp Inc. (NASDAQ:GBCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Separately, FIG Partners downgraded shares of Glacier Bancorp from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Glacier Bancorp presently has a consensus rating of “Hold” and an average price target of $27.25.
Shares of Glacier Bancorp (NASDAQ:GBCI) opened at 34.69 on Monday. The firm’s 50-day moving average is $29.44 and its 200-day moving average is $28.01. Glacier Bancorp has a 12-month low of $21.90 and a 12-month high of $34.73. The firm has a market cap of $2.65 billion, a PE ratio of 22.10 and a beta of 1.34.
Glacier Bancorp (NASDAQ:GBCI) last posted its quarterly earnings data on Thursday, October 20th. The company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.02. Glacier Bancorp had a net margin of 26.97% and a return on equity of 10.77%. Equities analysts expect that Glacier Bancorp will post $1.60 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Friday, December 2nd. Glacier Bancorp’s payout ratio is currently 50.96%.
In other Glacier Bancorp news, insider Don J. Chery sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $33.26, for a total value of $99,780.00. Following the completion of the transaction, the insider now owns 40,166 shares in the company, valued at approximately $1,335,921.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.09% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in GBCI. The Manufacturers Life Insurance Company bought a new position in Glacier Bancorp during the third quarter worth $49,268,000. Aberdeen Asset Management PLC UK boosted its position in Glacier Bancorp by 213.0% in the second quarter. Aberdeen Asset Management PLC UK now owns 992,736 shares of the company’s stock worth $26,387,000 after buying an additional 675,519 shares in the last quarter. BlackRock Fund Advisors boosted its position in Glacier Bancorp by 8.4% in the third quarter. BlackRock Fund Advisors now owns 5,393,371 shares of the company’s stock worth $153,819,000 after buying an additional 415,745 shares in the last quarter. BlackRock Group LTD raised its position in shares of Glacier Bancorp by 237.5% in the third quarter. BlackRock Group LTD now owns 506,458 shares of the company’s stock worth $14,445,000 after buying an additional 356,377 shares during the last quarter. Finally, Mairs & Power INC acquired a new position in shares of Glacier Bancorp during the third quarter worth about $9,911,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.
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About Glacier Bancorp
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. It provides banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington through its bank subsidiary, Glacier Bank (the Bank). The Company 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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