Zacks Investment Research upgraded shares of Glacier Bancorp (NASDAQ:GBCI) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. The brokerage currently has $66.00 price objective on the bank’s stock.

According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “

Separately, Stephens initiated coverage on shares of Glacier Bancorp in a report on Friday, February 19th. They issued an equal weight rating for the company. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Glacier Bancorp has a consensus rating of Buy and an average target price of $47.33.

Shares of NASDAQ:GBCI opened at $57.78 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Glacier Bancorp has a fifty-two week low of $30.05 and a fifty-two week high of $67.35. The firm has a 50-day simple moving average of $58.38 and a 200 day simple moving average of $46.49. The company has a market cap of $5.52 billion, a PE ratio of 22.66 and a beta of 1.04.

Glacier Bancorp (NASDAQ:GBCI) last posted its earnings results on Wednesday, January 27th. The bank reported $0.86 EPS for the quarter, topping the consensus estimate of $0.75 by $0.11. Glacier Bancorp had a net margin of 31.94% and a return on equity of 11.31%. The firm had revenue of $210.46 million during the quarter, compared to analysts’ expectations of $199.34 million. As a group, research analysts forecast that Glacier Bancorp will post 2.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 22nd. Investors of record on Tuesday, April 13th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, April 12th. This is an increase from Glacier Bancorp’s previous quarterly dividend of $0.30. Glacier Bancorp’s dividend payout ratio is 50.42%.

Several large investors have recently modified their holdings of GBCI. Norges Bank purchased a new stake in shares of Glacier Bancorp in the 4th quarter valued at approximately $53,453,000. BlackRock Inc. increased its stake in Glacier Bancorp by 4.6% in the 4th quarter. BlackRock Inc. now owns 11,530,081 shares of the bank’s stock valued at $530,499,000 after buying an additional 511,842 shares during the period. William Blair Investment Management LLC increased its stake in Glacier Bancorp by 98.8% in the 4th quarter. William Blair Investment Management LLC now owns 613,909 shares of the bank’s stock valued at $28,246,000 after buying an additional 305,111 shares during the period. Eaton Vance Management increased its stake in Glacier Bancorp by 41.6% in the 4th quarter. Eaton Vance Management now owns 1,000,306 shares of the bank’s stock valued at $46,024,000 after buying an additional 293,689 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Glacier Bancorp by 42.2% in the 4th quarter. JPMorgan Chase & Co. now owns 377,398 shares of the bank’s stock valued at $17,364,000 after buying an additional 112,048 shares during the period. Institutional investors and hedge funds own 68.09% of the company’s stock.

Glacier Bancorp Company Profile

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. It offers non-interest bearing deposit and interest bearing deposit accounts, such as negotiable order of withdrawal and demand deposit accounts, savings accounts, money market deposit accounts, fixed rate certificates of deposits, negotiated-rate jumbo certificates, and individual retirement accounts.

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