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

Glacier Bancorp, Inc. (NASDAQ:GBCI) has been given an average rating of “Moderate Buy” by the four brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $44.25.

A number of research analysts recently issued reports on the company. StockNews.com upgraded Glacier Bancorp to a “sell” rating in a research note on Thursday, June 6th. Truist Financial lifted their target price on Glacier Bancorp from $38.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. 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. Finally, 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.

Glacier Bancorp Price Performance

Shares of NASDAQ GBCI opened at $44.71 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.81 and a current ratio of 0.81. Glacier Bancorp has a fifty-two week low of $26.83 and a fifty-two week high of $46.78. The firm has a market capitalization of $5.07 billion, a PE ratio of 25.55 and a beta of 0.81. The stock’s 50-day simple moving average is $38.56 and its 200-day simple moving average is $38.32.

Glacier Bancorp (NASDAQ:GBCI) last issued its earnings results on Thursday, July 18th. The bank reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The business had revenue of $306.04 million for the quarter, compared to analyst estimates of $204.43 million. Glacier Bancorp had a return on equity of 6.06% and a net margin of 15.15%. During the same quarter last year, the company earned $0.50 EPS. As a group, equities research analysts forecast that Glacier Bancorp will post 1.63 EPS for the current fiscal year.

Glacier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.32 annualized dividend and a yield of 2.95%. Glacier Bancorp’s payout ratio is currently 75.43%.

Insider Transactions at Glacier Bancorp

In other news, CAO Don J. Chery sold 1,000 shares of Glacier Bancorp stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $45.49, for a total transaction of $45,490.00. Following the completion of the transaction, the chief accounting officer now owns 52,539 shares of the company’s stock, valued at approximately $2,389,999.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Glacier Bancorp

A number of institutional investors have recently made changes to their positions in GBCI. Vanguard Group Inc. lifted its stake in shares of Glacier Bancorp by 0.5% during the third quarter. Vanguard Group Inc. now owns 12,269,992 shares of the bank’s stock valued at $349,695,000 after buying an additional 67,091 shares during the period. Raymond James & Associates grew its position in shares of Glacier Bancorp by 1.3% in the fourth quarter. Raymond James & Associates now owns 1,004,414 shares of the bank’s stock valued at $41,502,000 after purchasing an additional 13,341 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Glacier Bancorp by 26.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 72,328 shares of the bank’s stock valued at $2,989,000 after purchasing an additional 15,320 shares during the last quarter. Pacer Advisors Inc. lifted its position in Glacier Bancorp by 79.9% during the fourth quarter. Pacer Advisors Inc. now owns 16,660 shares of the bank’s stock worth $688,000 after buying an additional 7,397 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new stake in Glacier Bancorp in the 4th quarter worth about $213,000. 80.17% of the stock is owned by institutional investors and hedge funds.

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.