Glacier Bancorp, Inc. (NYSE:GBCI) Receives Average Recommendation of “Hold” from Brokerages

Glacier Bancorp, Inc. (NYSE:GBCI) has been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $55.1667.

Several equities research analysts recently weighed in on GBCI shares. Weiss Ratings raised Glacier Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. Piper Sandler raised their target price on shares of Glacier Bancorp from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Stephens lifted their target price on shares of Glacier Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, DA Davidson increased their price target on shares of Glacier Bancorp from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, April 27th.

Institutional Trading of Glacier Bancorp

Several hedge funds have recently modified their holdings of GBCI. Norges Bank purchased a new position in shares of Glacier Bancorp in the 4th quarter valued at about $67,582,000. Vanguard Group Inc. lifted its stake in shares of Glacier Bancorp by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 13,359,157 shares of the company’s stock valued at $588,471,000 after purchasing an additional 870,335 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Glacier Bancorp during the first quarter worth about $33,197,000. Bank of America Corp DE boosted its holdings in Glacier Bancorp by 82.1% during the first quarter. Bank of America Corp DE now owns 1,281,285 shares of the company’s stock worth $57,235,000 after buying an additional 577,654 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Glacier Bancorp during the second quarter worth about $24,362,000. 80.17% of the stock is owned by institutional investors and hedge funds.

Glacier Bancorp Stock Down 1.8%

GBCI opened at $53.52 on Friday. The business has a 50 day moving average price of $49.21 and a two-hundred day moving average price of $48.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.06. The company has a market cap of $6.96 billion, a PE ratio of 25.01 and a beta of 0.72. Glacier Bancorp has a 52 week low of $39.90 and a 52 week high of $54.58.

Glacier Bancorp (NYSE:GBCI) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Glacier Bancorp had a return on equity of 7.19% and a net margin of 17.60%.The company had revenue of $309.61 million during the quarter. During the same period in the previous year, the business posted $0.48 earnings per share. As a group, research analysts anticipate that Glacier Bancorp will post 3.16 EPS for the current year.

Glacier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, July 7th. Glacier Bancorp’s dividend payout ratio is 61.68%.

About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company headquartered in Kalispell, Montana. Through its network of community banks, the company delivers commercial and retail banking services to individuals, small and medium-sized businesses, and agricultural clients. With a commitment to relationship-driven banking, Glacier Bancorp combines local market expertise with regional scale to offer customized financial solutions that address the unique needs of the communities it serves.

Established in 1955 as Glacier Bank, the company has expanded both organically and through targeted acquisitions to build a presence across the Mountain West and into the Upper Midwest and Southwest.